Belpointe Asset Management LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Belpointe Asset Management LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, Holdings Channel reports. The firm acquired 2,779 shares of the company’s stock, valued at approximately $313,000.

A number of other large investors have also recently made changes to their positions in the company. CreativeOne Wealth LLC grew its holdings in Cardinal Health by 10.5% during the 4th quarter. CreativeOne Wealth LLC now owns 4,036 shares of the company’s stock worth $477,000 after acquiring an additional 382 shares in the last quarter. Mariner LLC raised its stake in Cardinal Health by 5.4% in the fourth quarter. Mariner LLC now owns 52,160 shares of the company’s stock valued at $6,169,000 after buying an additional 2,685 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in Cardinal Health by 5.4% during the 4th quarter. Cohen & Steers Inc. now owns 2,281 shares of the company’s stock worth $270,000 after buying an additional 116 shares during the last quarter. Trustmark National Bank Trust Department boosted its position in shares of Cardinal Health by 4.8% during the 4th quarter. Trustmark National Bank Trust Department now owns 23,481 shares of the company’s stock worth $2,777,000 after acquiring an additional 1,068 shares in the last quarter. Finally, SageView Advisory Group LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at about $447,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $134.54 on Thursday. The company has a market cap of $32.50 billion, a P/E ratio of 25.10, a PEG ratio of 1.49 and a beta of 0.61. The firm has a fifty day moving average of $129.76 and a two-hundred day moving average of $122.82. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $139.50.

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

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CAH. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. Bank of America increased their target price on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Argus set a $148.00 price objective on Cardinal Health in a report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

Cardinal Health 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.