Occidental Asset Management LLC Has $4.01 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Occidental Asset Management LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,873 shares of the company’s stock after buying an additional 3,102 shares during the period. Occidental Asset Management LLC’s holdings in Cardinal Health were worth $4,006,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 33,388 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in shares of Cardinal Health during the third quarter worth approximately $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Cardinal Health in the 3rd quarter worth $1,691,000. Finally, National Wealth Management Group LLC acquired a new stake in Cardinal Health in the 3rd quarter valued at $903,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Up 1.9 %

Shares of CAH opened at $127.03 on Friday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $127.08. The company has a market cap of $30.74 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. The stock has a 50-day moving average price of $120.63 and a 200-day moving average price of $111.61.

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

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent research reports. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Mizuho initiated coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. UBS Group raised their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Barclays upped their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.29.

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.