Sovereign Investment Advisors LLC Buys Shares of 3,055 Cardinal Health, Inc. (NYSE:CAH)

Sovereign Investment Advisors LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 3,055 shares of the company’s stock, valued at approximately $361,000.

Other hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC increased its holdings in Cardinal Health by 69.8% in the third 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. Promus Capital LLC purchased a new position in Cardinal Health in the fourth quarter valued at about $30,000. AM Squared Ltd purchased a new position in Cardinal Health in the third quarter valued at about $33,000. Kentucky Trust Co purchased a new position in Cardinal Health in the fourth quarter valued at about $41,000. Finally, HHM Wealth Advisors LLC raised its position in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 1.5 %

Shares of NYSE CAH opened at $128.20 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The firm has a fifty day moving average of $126.33 and a 200-day moving average of $119.38. The stock has a market capitalization of $30.97 billion, a PE ratio of 23.92, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.58%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CAH shares. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Morgan Stanley lifted their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.