One Wealth Advisors LLC Cuts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• One Wealth Advisors LLC has reduced its stake in Cardinal Health, Inc. by 44.8% during the first quarter, leaving it with 2,274 shares valued at approximately $313,000.
• Recent analyst ratings have seen several upgrades, with UBS Group increasing its price target from $150 to $160 and Wells Fargo boosting its target from $136 to $179, indicating a general consensus rating of "Moderate Buy".
• Cardinal Health announced a quarterly dividend increase to $0.51 per share, resulting in an annualized yield of 1.30%, and a payout ratio of 31.83%.

One Wealth Advisors LLC trimmed its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 44.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,274 shares of the company's stock after selling 1,846 shares during the period. One Wealth Advisors LLC's holdings in Cardinal Health were worth $313,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CAH. Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after buying an additional 109,273 shares in the last quarter. Invesco Ltd. lifted its position in Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock valued at $376,396,000 after buying an additional 140,368 shares in the last quarter. Marshall Wace LLP lifted its position in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after buying an additional 1,913,892 shares in the last quarter. Northern Trust Corp lifted its position in shares of Cardinal Health by 16.2% during the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after purchasing an additional 422,755 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cardinal Health by 4.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock worth $274,599,000 after purchasing an additional 94,768 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CAH shares. UBS Group raised their price target on shares of 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 upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Citigroup reaffirmed a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Finally, Morgan Stanley raised their price objective on shares of Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

Cardinal Health Stock Performance

NYSE CAH traded down $1.19 on Friday, hitting $157.10. 1,212,904 shares of the stock traded hands, compared to its average volume of 1,857,181. The firm has a market capitalization of $37.50 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.57 and a beta of 0.68. The business's fifty day moving average is $159.42 and its two-hundred day moving average is $141.52. Cardinal Health, Inc. has a 12 month low of $96.05 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The business had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The firm's revenue was up .0% on a year-over-year basis. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.30%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.83%.

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.