International Assets Investment Management LLC Sells 238,040 Shares of Cardinal Health, Inc. (NYSE:CAH)

International Assets Investment Management LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 95.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,838 shares of the company’s stock after selling 238,040 shares during the period. International Assets Investment Management LLC’s holdings in Cardinal Health were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Private Advisor Group LLC increased its stake in Cardinal Health by 16.4% during the 2nd quarter. Private Advisor Group LLC now owns 14,056 shares of the company’s stock valued at $1,382,000 after purchasing an additional 1,979 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Cardinal Health during the second quarter worth about $63,000. Ballentine Partners LLC raised its holdings in shares of Cardinal Health by 12.4% in the 2nd quarter. Ballentine Partners LLC now owns 3,641 shares of the company’s stock worth $358,000 after acquiring an additional 403 shares during the last quarter. Quest Partners LLC lifted its position in Cardinal Health by 10.3% in the 2nd quarter. Quest Partners LLC now owns 10,148 shares of the company’s stock valued at $998,000 after acquiring an additional 950 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health during the 2nd quarter valued at about $29,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday. UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $145.00 in a report on Monday. Finally, TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $144.00 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.71.

Cardinal Health Price Performance

NYSE:CAH opened at $122.56 on Thursday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The business has a fifty day simple moving average of $119.49 and a two-hundred day simple moving average of $110.76. The company has a market capitalization of $29.66 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.47 and a beta of 0.63.

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

Cardinal Health Cuts Dividend

The firm also recently disclosed 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 1.65%. Cardinal Health’s dividend payout ratio is 39.30%.

Cardinal Health Company 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.