Retirement Systems of Alabama Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Retirement Systems of Alabama lessened its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 465,832 shares of the company's stock after selling 5,220 shares during the quarter. Retirement Systems of Alabama owned approximately 0.19% of Cardinal Health worth $64,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. Cyrus J. Lawrence LLC purchased a new position in Cardinal Health in the 4th quarter worth about $26,000. Promus Capital LLC bought a new position in Cardinal Health in the 4th quarter worth about $30,000. Bellwether Advisors LLC bought a new position in Cardinal Health in the 4th quarter worth about $32,000. Tompkins Financial Corp raised its stake in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after acquiring an additional 128 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $35,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the topic of several research reports. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the stock an "overweight" rating in a research note on Friday, June 13th. Bank of America raised their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cardinal Health has a consensus rating of "Moderate Buy" and an average price target of $157.43.

Cardinal Health Stock Up 0.4%

Shares of CAH opened at $165.51 on Friday. The company has a 50 day moving average of $148.90 and a two-hundred day moving average of $133.78. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $166.03. The company has a market cap of $39.50 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 1.85 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This is a positive change 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 dividend yield of 1.23%. Cardinal Health's payout ratio is presently 31.51%.

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.

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