98,949 Shares in Cardinal Health, Inc. (NYSE:CAH) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, Holdings Channel reports. The fund acquired 98,949 shares of the company’s stock, valued at approximately $11,724,000.

Several other large investors have also recently modified their holdings of the stock. Rothschild Investment LLC grew its position in Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after acquiring an additional 79 shares during the last quarter. Private Trust Co. NA raised its holdings in Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after buying an additional 92 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Cardinal Health by 2.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after buying an additional 93 shares during the period. TIAA Trust National Association grew its holdings in Cardinal Health by 4.5% in the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after acquiring an additional 94 shares during the last quarter. Finally, MWA Asset Management increased its position in shares of Cardinal Health by 2.9% in the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH stock opened at $129.37 on Monday. The firm has a 50 day moving average price of $129.15 and a 200-day moving average price of $121.69. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $139.50. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley raised their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group raised shares of 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 research report on Wednesday, February 5th. Finally, Mizuho raised their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.14.

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.