Shell Asset Management Co. Sells 413 Shares of Cardinal Health, Inc. (NYSE:CAH)

Shell Asset Management Co. decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,733 shares of the company’s stock after selling 413 shares during the quarter. Shell Asset Management Co.’s holdings in Cardinal Health were worth $2,334,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health during the 4th quarter worth about $26,000. Promus Capital LLC acquired a new stake in shares of Cardinal Health during the 4th quarter valued at about $30,000. Bellwether Advisors LLC acquired a new stake in shares of Cardinal Health during the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new stake in shares of Cardinal Health during the 4th quarter valued at about $35,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Cardinal Health during the 4th quarter valued at about $36,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $154.23 on Friday. The company has a market cap of $36.81 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The firm has a 50 day simple moving average of $137.09 and a 200 day simple moving average of $127.65. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $154.32.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Cardinal Health’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is presently 31.83%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAH. Robert W. Baird lifted their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Citigroup reiterated a “neutral” rating on shares of Cardinal Health in a research report on Thursday, May 1st. Bank of America boosted their price target 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. Morgan Stanley boosted their price target on shares of Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

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.