Whittier Trust Co. Raises Stake in CVS Health Corporation (CVS)
Whittier Trust Co. raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,102 shares of the pharmacy operator’s stock after buying an additional 2,893 shares during the period. Whittier Trust Co.’s holdings in CVS Health Corporation were worth $14,849,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of CVS Health Corporation during the second quarter valued at about $438,948,000. Nordea Investment Management AB raised its position in shares of CVS Health Corporation by 61.3% in the second quarter. Nordea Investment Management AB now owns 11,644,431 shares of the pharmacy operator’s stock valued at $1,114,838,000 after buying an additional 4,423,216 shares in the last quarter. Credit Agricole S A raised its position in shares of CVS Health Corporation by 112.8% in the first quarter. Credit Agricole S A now owns 2,492,231 shares of the pharmacy operator’s stock valued at $258,521,000 after buying an additional 1,320,987 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of CVS Health Corporation during the first quarter valued at about $125,795,000. Finally, State Street Corp raised its position in shares of CVS Health Corporation by 2.4% in the first quarter. State Street Corp now owns 44,552,112 shares of the pharmacy operator’s stock valued at $4,621,391,000 after buying an additional 1,023,799 shares in the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded down 2.41% during mid-day trading on Monday, reaching $86.66. The company had a trading volume of 7,381,666 shares. The stock has a market capitalization of $92.40 billion, a P/E ratio of 19.94 and a beta of 0.83. CVS Health Corporation has a 12-month low of $85.41 and a 12-month high of $106.67. The stock has a 50 day moving average price of $89.92 and a 200-day moving average price of $96.23.
CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.02. The firm had revenue of $43.70 billion for the quarter, compared to analyst estimates of $44.28 billion. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. Equities analysts anticipate that CVS Health Corporation will post $5.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.70 annualized dividend and a dividend yield of 1.96%. CVS Health Corporation’s payout ratio is presently 39.08%.
Several equities research analysts have commented on CVS shares. Morgan Stanley cut CVS Health Corporation from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $111.00 to $104.00 in a research note on Monday, June 20th. Credit Suisse Group AG restated an “outperform” rating and issued a $110.00 target price (down previously from $115.00) on shares of CVS Health Corporation in a research note on Tuesday, October 4th. Robert W. Baird cut their target price on CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, October 3rd. Leerink Swann restated an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of CVS Health Corporation in a research note on Sunday, October 2nd. Finally, Jefferies Group restated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. CVS Health Corporation has a consensus rating of “Buy” and a consensus target price 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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