State of Alaska Department of Revenue Has $6.24 Million Holdings in Cardinal Health, Inc. $CAH

Key Points

• State of Alaska Department of Revenue reduced its stake in Cardinal Health by 44.5% in Q4, selling 24,387 shares and finishing the period with 30,372 shares valued at $6.24 million.
• Cardinal Health beat Q4 estimates with $2.63 EPS (vs. $2.31 expected) and revenue of $65.63 billion (up 18.8% YoY), though its net margin was only 0.68% and return on equity was negative 92.5%.
• The company declared a quarterly dividend of $0.5107 (annualized $2.04, about a 1.0% yield), and analysts rate the stock a "Moderate Buy" with an average target price of $244.33.

State of Alaska Department of Revenue lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 44.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,372 shares of the company's stock after selling 24,387 shares during the period. State of Alaska Department of Revenue's holdings in Cardinal Health were worth $6,240,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $25,000. SJS Investment Consulting Inc. grew its position in shares of Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Barnes Dennig Private Wealth Management LLC grew its position in shares of Cardinal Health by 38.7% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company's stock worth $39,000 after purchasing an additional 53 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. bought a new position in Cardinal Health in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $214.92 on Wednesday. Cardinal Health, Inc. has a fifty-two week low of $129.52 and a fifty-two week high of $233.60. The firm has a market capitalization of $50.57 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.38 and a beta of 0.64. The company's 50 day moving average price is $217.69 and its two-hundred day moving average price is $202.03.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter last year, the business posted $1.93 earnings per share. The company's quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.5107 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. Cardinal Health's dividend payout ratio (DPR) is currently 29.35%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAH. Weiss Ratings reissued a "buy (b)" rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Zacks Research raised shares of Cardinal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $209.00 to $243.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a "buy" rating in a research note on Friday, February 6th. Finally, Argus lifted their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $244.33.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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