Octavia Wealth Advisors LLC Sells 734 Shares of Cardinal Health, Inc. (NYSE:CAH)

Octavia Wealth Advisors LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,107 shares of the company’s stock after selling 734 shares during the period. Octavia Wealth Advisors LLC’s holdings in Cardinal Health were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CAH. State Street Corp raised its stake in shares of Cardinal Health by 2.1% during the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after acquiring an additional 457,777 shares during the last quarter. Invesco Ltd. raised its stake in shares of Cardinal Health by 9.0% during the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after acquiring an additional 511,826 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cardinal Health by 0.5% during the first quarter. Geode Capital Management LLC now owns 5,396,988 shares of the company’s stock valued at $406,560,000 after buying an additional 28,250 shares during the period. Morgan Stanley increased its position in shares of Cardinal Health by 3.6% during the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock valued at $353,155,000 after buying an additional 161,667 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Up 0.4 %

CAH traded up $0.47 during trading on Tuesday, hitting $107.50. The company’s stock had a trading volume of 527,971 shares, compared to its average volume of 2,249,083. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04. The firm has a market cap of $26.15 billion, a PE ratio of 42.14, a P/E/G ratio of 1.01 and a beta of 0.68. The business’s 50 day simple moving average is $109.39 and its 200-day simple moving average is $103.85.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $57.02 billion. During the same period last year, the firm earned $1.32 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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 target on the stock. UBS Group increased their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, Barclays assumed coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.07.

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.