Moody National Bank Trust Division Lowers Stake in Cardinal Health, Inc. (NYSE:CAH)

Moody National Bank Trust Division lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,636 shares of the company’s stock after selling 427 shares during the quarter. Moody National Bank Trust Division’s holdings in Cardinal Health were worth $312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Paragon Capital Management Inc. boosted its position in Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares in the last quarter. Huntington National Bank lifted its position in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after buying an additional 100 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Cardinal Health by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock valued at $1,125,000 after buying an additional 103 shares in the last quarter. Frazier Financial Advisors LLC boosted its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Cardinal Health by 4.9% in the 3rd quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock worth $249,000 after buying an additional 106 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CAH. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Barclays increased their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Finally, UBS Group increased their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.29.

Cardinal Health Stock Performance

Shares of CAH opened at $123.88 on Wednesday. The business’s 50-day moving average is $120.06 and its two-hundred day moving average is $111.23. The company has a market capitalization of $29.98 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.23.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period last year, the business earned $1.73 earnings per share. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current 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 given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.63%. Cardinal Health’s dividend payout ratio is presently 39.30%.

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.