CWA Asset Management Group LLC Acquires 11,847 Shares of Cardinal Health, Inc. (NYSE:CAH)

CWA Asset Management Group LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,052 shares of the company’s stock after purchasing an additional 11,847 shares during the quarter. Cardinal Health makes up about 0.8% of CWA Asset Management Group LLC’s investment portfolio, making the stock its 28th biggest holding. CWA Asset Management Group LLC’s holdings in Cardinal Health were worth $15,263,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CAH. Eastern Bank bought a new stake in shares of Cardinal Health during the third quarter worth $25,000. Frazier Financial Advisors LLC boosted its holdings in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Cardinal Health during the 3rd quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the 2nd quarter worth approximately $29,000. Finally, AM Squared Ltd bought a new stake in shares of Cardinal Health during the 3rd quarter worth $33,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAH has been the subject of several research analyst reports. Mizuho assumed coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $101.00 to $127.00 in a report on Friday, December 13th. Finally, Argus upped their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.85.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded up $1.25 during trading hours on Monday, reaching $120.55. The company’s stock had a trading volume of 310,595 shares, compared to its average volume of 1,157,090. The firm has a 50 day moving average price of $118.80 and a 200-day moving average price of $110.45. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.23. The stock has a market cap of $29.17 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.68%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Cardinal Health Profile

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.