Alliancebernstein L.P. Has $40.71 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Alliancebernstein L.P. trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,214 shares of the company’s stock after selling 11,339 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Cardinal Health worth $40,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cardinal Health in the 4th quarter valued at $246,748,000. State Street Corp increased its stake in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after acquiring an additional 627,253 shares during the period. Raymond James Financial Inc. acquired a new position in Cardinal Health in the fourth quarter worth about $45,115,000. KLP Kapitalforvaltning AS bought a new position in Cardinal Health during the fourth quarter worth about $21,336,000. Finally, Proficio Capital Partners LLC acquired a new stake in Cardinal Health during the fourth quarter valued at approximately $14,995,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 5.6 %

CAH stock opened at $129.37 on Friday. The business has a fifty day moving average of $129.15 and a 200-day moving average of $121.62. The company has a market cap of $31.25 billion, a P/E ratio of 24.14, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $139.50.

Cardinal Health (NYSE:CAH) last released its earnings results 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 net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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

Analyst Ratings Changes

CAH has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Citigroup lifted their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price target on shares of 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 raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $140.14.

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.