Investment Management Associates Inc. ADV Sells 403 Shares of Cardinal Health, Inc. (NYSE:CAH)

Investment Management Associates Inc. ADV reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,054 shares of the company’s stock after selling 403 shares during the period. Cardinal Health accounts for approximately 0.4% of Investment Management Associates Inc. ADV’s portfolio, making the stock its 19th largest position. Investment Management Associates Inc. ADV’s holdings in Cardinal Health were worth $834,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAH. State Street Corp increased its position in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares during the period. Pacer Advisors Inc. raised its position in shares of Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after buying an additional 191,568 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after buying an additional 33,388 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.5 %

Cardinal Health stock opened at $127.35 on Friday. The stock has a 50-day simple moving average of $123.45 and a 200 day simple moving average of $116.88. The stock has a market capitalization of $30.76 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (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, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is 37.69%.

Wall Street Analyst Weigh In

CAH has been the topic of several research reports. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Barclays boosted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Morgan Stanley raised their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $136.87.

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.