Goelzer Investment Management Inc. Boosts Stake in CVS Health Corporation (NYSE:CVS)
Goelzer Investment Management Inc. increased its stake in CVS Health Corporation (NYSE:CVS) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 74,521 shares of the pharmacy operator’s stock after buying an additional 970 shares during the period. Goelzer Investment Management Inc.’s holdings in CVS Health Corporation were worth $5,850,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. NWQ Investment Management Company LLC raised its stake in shares of CVS Health Corporation by 44.8% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,352,559 shares of the pharmacy operator’s stock valued at $106,730,000 after buying an additional 418,601 shares in the last quarter. Naples Global Advisors LLC bought a new stake in shares of CVS Health Corporation during the first quarter valued at approximately $452,000. Regent Investment Management LLC raised its stake in shares of CVS Health Corporation by 0.6% in the first quarter. Regent Investment Management LLC now owns 66,818 shares of the pharmacy operator’s stock valued at $5,245,000 after buying an additional 429 shares in the last quarter. Thompson Rubinstein Investment Management Inc. OR raised its stake in shares of CVS Health Corporation by 8.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 39,646 shares of the pharmacy operator’s stock valued at $3,112,000 after buying an additional 3,159 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of CVS Health Corporation by 17.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,139 shares of the pharmacy operator’s stock valued at $7,233,000 after buying an additional 14,012 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Corporation (CVS) opened at 78.91 on Wednesday. The stock has a market cap of $80.39 billion, a PE ratio of 16.46 and a beta of 0.91. The company’s 50-day moving average is $78.67 and its 200 day moving average is $79.23. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.66.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The company had revenue of $44.51 billion for the quarter, compared to analysts’ expectations of $44.20 billion. During the same quarter last year, the business earned $1.18 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, analysts expect that CVS Health Corporation will post $5.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, July 20th. CVS Health Corporation’s payout ratio is 41.67%.
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CVS has been the topic of several research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $88.00 price objective (up previously from $87.00) on shares of CVS Health Corporation in a research report on Wednesday, May 3rd. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price objective on the stock in a research report on Wednesday, May 17th. ValuEngine lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Tigress Financial initiated coverage on shares of CVS Health Corporation in a research report on Thursday, April 27th. They issued a “buy” rating on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $93.67.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the sale, the chief financial officer now owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Helena Foulkes sold 20,333 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the sale, the executive vice president now owns 59,301 shares in the company, valued at approximately $4,744,080. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,175 shares of company stock worth $21,632,597. 0.61% of the stock is owned by company insiders.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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