Snowden Capital Advisors LLC Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Snowden Capital Advisors LLC lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,978 shares of the company's stock after selling 2,245 shares during the quarter. Snowden Capital Advisors LLC's holdings in Cardinal Health were worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at about $26,000. Promus Capital LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. Bellwether Advisors LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Cardinal Health in the fourth quarter worth $36,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE CAH traded down $0.90 during midday trading on Thursday, hitting $152.41. 1,129,337 shares of the company traded hands, compared to its average volume of 2,226,904. The company has a market cap of $36.38 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $156.44. The company's 50-day simple moving average is $138.70 and its 200-day simple moving average is $128.54.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. On average, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.34%. Cardinal Health's dividend payout ratio is presently 31.83%.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. UBS Group lifted their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. Finally, Argus set a $148.00 price objective on shares of Cardinal Health in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and an average target price of $146.43.

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.