Hartford Investment Management Co. Sells 439 Shares of Cardinal Health, Inc. (NYSE:CAH)

Hartford Investment Management Co. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,950 shares of the company’s stock after selling 439 shares during the quarter. Hartford Investment Management Co.’s holdings in Cardinal Health were worth $1,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MWA Asset Management increased its position in Cardinal Health by 2.9% during the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after purchasing an additional 95 shares during the period. Paragon Capital Management Inc. boosted its stake in shares of Cardinal Health by 0.7% during the 3rd quarter. Paragon Capital Management Inc. now owns 14,857 shares of the company’s stock valued at $1,642,000 after purchasing an additional 99 shares in the last quarter. Huntington National Bank increased its position in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after buying an additional 100 shares during the period. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 29.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $127.16 on Friday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The stock has a 50-day moving average of $122.78 and a 200 day moving average of $115.99. The company has a market capitalization of $30.72 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.49 and a beta of 0.63.

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

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. Cardinal Health’s dividend payout ratio (DPR) is currently 37.69%.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $136.87.

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.