First Citizens Bank & Trust Co. Acquires 508 Shares of Cardinal Health, Inc. (NYSE:CAH)

First Citizens Bank & Trust Co. boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,031 shares of the company’s stock after buying an additional 508 shares during the period. First Citizens Bank & Trust Co.’s holdings in Cardinal Health were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CHURCHILL MANAGEMENT Corp boosted its position in Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after buying an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Cardinal Health during the third quarter valued at approximately $1,691,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $130.65 on Tuesday. The stock has a market capitalization of $31.62 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The business has a 50-day moving average of $121.57 and a 200 day moving average of $113.42. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $131.00.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $0.5056 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.55%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAH. Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group boosted their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price target on Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley boosted their price target on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $134.64.

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.