Corebridge Financial Inc. Sells 3,267 Shares of Cardinal Health, Inc. (NYSE:CAH)

Corebridge Financial Inc. reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,977 shares of the company’s stock after selling 3,267 shares during the period. Corebridge Financial Inc.’s holdings in Cardinal Health were worth $6,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC boosted its position in Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after buying an additional 79 shares during the period. Private Trust Co. NA grew its stake in shares of Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company’s stock worth $110,000 after purchasing an additional 92 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in Cardinal Health by 2.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after purchasing an additional 93 shares during the period. MWA Asset Management raised 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 worth $393,000 after purchasing an additional 95 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its position in Cardinal Health by 3.6% during the 4th quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock worth $323,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAH. Wells Fargo & Company increased their price target on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Morgan Stanley upped their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $136.43 on Friday. The business has a 50-day simple moving average of $128.36 and a 200 day simple moving average of $120.76. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $137.18.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is presently 37.69%.

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.