Octavia Wealth Advisors LLC Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Octavia Wealth Advisors LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.7% during the 4th quarter, Holdings Channel reports. The firm owned 6,107 shares of the company’s stock after selling 734 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Cardinal Health were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Cardinal Health during the 4th quarter valued at approximately $220,230,000. Moneta Group Investment Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $215,893,000. Ameriprise Financial Inc. lifted its stake in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after purchasing an additional 1,862,291 shares during the period. Nomura Holdings Inc. lifted its stake in shares of Cardinal Health by 677.5% in the 1st quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock valued at $101,986,000 after purchasing an additional 1,177,066 shares during the period. Finally, Man Group plc lifted its stake in shares of Cardinal Health by 68.3% in the 4th quarter. Man Group plc now owns 1,477,702 shares of the company’s stock valued at $113,591,000 after purchasing an additional 599,698 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.4 %

Shares of Cardinal Health stock traded up $0.47 during trading hours on Tuesday, reaching $107.50. 527,971 shares of the company’s stock were exchanged, compared to its average volume of 2,249,083. Cardinal Health, Inc. has a 1 year low of $77.56 and a 1 year high of $116.04. The company has a market capitalization of $26.15 billion, a P/E ratio of 42.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.68. The business has a fifty day moving average of $109.39 and a two-hundred day moving average of $103.85.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. UBS Group boosted their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. SVB Leerink assumed coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective for the company. Finally, Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $103.07.

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.