Vanguard Group Inc. Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Vanguard Group Inc. decreased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,772,239 shares of the company's stock after selling 20,738 shares during the quarter. Vanguard Group Inc. owned about 12.74% of Cardinal Health worth $3,639,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CAH. Stevens Capital Management LP bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $265,000. LPL Financial LLC lifted its holdings in Cardinal Health by 6.7% in the fourth quarter. LPL Financial LLC now owns 231,276 shares of the company's stock worth $27,353,000 after buying an additional 14,623 shares during the period. Simplify Asset Management Inc. bought a new stake in Cardinal Health during the 4th quarter valued at approximately $718,000. KLP Kapitalforvaltning AS purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $21,336,000. Finally, Mizuho Securities USA LLC raised its position in shares of Cardinal Health by 45.1% in the 4th quarter. Mizuho Securities USA LLC now owns 22,937 shares of the company's stock worth $2,713,000 after acquiring an additional 7,125 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

NYSE CAH traded down $0.22 during trading hours on Friday, hitting $136.43. The company's stock had a trading volume of 1,873,170 shares, compared to its average volume of 2,104,261. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $139.81. The company's 50 day simple moving average is $128.36 and its two-hundred day simple moving average is $120.76. The company has a market cap of $32.96 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

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Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. Cardinal Health's payout ratio is 37.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAH shares. Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Evercore ISI upgraded shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price target for the company. Citigroup upped their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Finally, Wells Fargo & Company raised their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $139.36.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.