American International Group Inc. trimmed its holdings in Cardinal Health Inc (NYSE:CAH) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,478,899 shares of the company’s stock after selling 352,772 shares during the quarter. Cardinal Health comprises about 1.4% of American International Group Inc.’s portfolio, making the stock its 26th biggest position. American International Group Inc.’s holdings in Cardinal Health were worth $360,109,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CAH. Bank of New York Mellon Corp raised its stake in Cardinal Health by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 8,119,896 shares of the company’s stock worth $362,149,000 after buying an additional 290,620 shares during the period. First PREMIER Bank raised its stake in Cardinal Health by 6.7% during the 4th quarter. First PREMIER Bank now owns 6,570 shares of the company’s stock worth $293,000 after buying an additional 410 shares during the period. Corient Capital Partners LLC acquired a new position in Cardinal Health during the 4th quarter worth approximately $1,897,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Cardinal Health during the 4th quarter worth approximately $1,570,000. Finally, Conning Inc. raised its stake in Cardinal Health by 4.0% during the 1st quarter. Conning Inc. now owns 493,352 shares of the company’s stock worth $23,755,000 after buying an additional 18,770 shares during the period. 87.62% of the stock is currently owned by institutional investors.
Shares of CAH opened at $46.07 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.51. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 1.59 and a beta of 1.14. Cardinal Health Inc has a 52 week low of $42.17 and a 52 week high of $58.31.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.4811 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Friday, June 28th. Cardinal Health’s payout ratio is currently 38.20%.
A number of research analysts recently weighed in on CAH shares. Zacks Investment Research raised Cardinal Health from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine downgraded Cardinal Health from a “sell” rating to a “strong sell” rating in a research note on Monday, February 25th. UBS Group started coverage on Cardinal Health in a research note on Thursday, January 17th. They set a “neutral” rating and a $51.00 price target on the stock. Guggenheim began coverage on Cardinal Health in a research note on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target on the stock. Finally, Wolfe Research began coverage on Cardinal Health in a report on Tuesday, April 2nd. They set an “underperform” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $56.20.
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Cardinal Health Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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