Alps Advisors Inc. Cuts Stake in CVS Health Corporation (CVS)
Alps Advisors Inc. cut its position in shares of CVS Health Corporation (NYSE:CVS) by 4.3% during the second quarter, Holdings Channel reports. The firm owned 4,403 shares of the pharmacy operator’s stock after selling 199 shares during the period. Alps Advisors Inc.’s holdings in CVS Health Corporation were worth $422,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. MU Investments Co. Ltd. raised its position in CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock worth $109,000 after buying an additional 440 shares during the period. Springbok Capital Management LLC raised its position in CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock worth $117,000 after buying an additional 741 shares during the period. Arcadia Investment Management Corp MI raised its position in CVS Health Corporation by 87.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,605 shares of the pharmacy operator’s stock worth $154,000 after buying an additional 750 shares during the period. Physicians Financial Services Inc. raised its position in CVS Health Corporation by 5.8% in the second quarter. Physicians Financial Services Inc. now owns 1,849 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 101 shares during the period. Finally, Highland Private Wealth Management bought a new position in CVS Health Corporation during the first quarter worth about $198,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded up 0.50% during mid-day trading on Monday, hitting $86.83. The stock had a trading volume of 5,342,374 shares. CVS Health Corporation has a one year low of $85.89 and a one year high of $106.67. The stock has a market cap of $92.58 billion, a PE ratio of 19.97 and a beta of 0.83. The firm’s 50-day moving average is $91.41 and its 200 day moving average is $96.91.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The firm earned $43.70 billion during the quarter, compared to analyst estimates of $44.28 billion. During the same quarter last year, the business posted $1.19 EPS. The company’s revenue was up 17.6% on a year-over-year basis. Equities research analysts expect that CVS Health Corporation will post $5.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health Corporation’s dividend payout ratio is 39.08%.
CVS has been the subject of a number of recent research reports. Argus reiterated a “buy” rating and issued a $120.00 target price on shares of CVS Health Corporation in a report on Thursday, August 4th. Mizuho lifted their target price on CVS Health Corporation from $108.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 4th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $115.00 price target on shares of CVS Health Corporation in a research report on Tuesday, September 20th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $112.40.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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