CVS Health Corporation (CVS) Position Boosted by Butensky & Cohen Financial Security Inc.
Butensky & Cohen Financial Security Inc. raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,392 shares of the pharmacy operator’s stock after buying an additional 490 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in CVS Health Corporation were worth $1,721,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Atalanta Sosnoff Capital LLC raised its position in CVS Health Corporation by 1.0% in the first quarter. Atalanta Sosnoff Capital LLC now owns 30,202 shares of the pharmacy operator’s stock valued at $2,371,000 after buying an additional 310 shares during the last quarter. Integrated Investment Consultants LLC raised its position in CVS Health Corporation by 6.0% in the first quarter. Integrated Investment Consultants LLC now owns 2,670 shares of the pharmacy operator’s stock valued at $210,000 after buying an additional 150 shares during the last quarter. Cacti Asset Management LLC raised its position in CVS Health Corporation by 31.5% in the first quarter. Cacti Asset Management LLC now owns 491,195 shares of the pharmacy operator’s stock valued at $38,731,000 after buying an additional 117,725 shares during the last quarter. Beacon Financial Group raised its position in CVS Health Corporation by 343.5% in the first quarter. Beacon Financial Group now owns 58,133 shares of the pharmacy operator’s stock valued at $4,583,000 after buying an additional 45,026 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in CVS Health Corporation by 16.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,526,280 shares of the pharmacy operator’s stock valued at $751,719,000 after buying an additional 1,359,100 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.
CVS Health Corporation (NYSE:CVS) traded up 0.50% during mid-day trading on Wednesday, hitting $78.96. The stock had a trading volume of 1,948,403 shares. The stock’s 50-day moving average is $78.62 and its 200 day moving average is $79.09. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.44. The company has a market capitalization of $80.44 billion, a P/E ratio of 16.47 and a beta of 0.91. CVS Health Corporation also was the recipient of unusually large options trading on Monday. Investors acquired 12,222 put options on the company. This is an increase of approximately 254% compared to the typical daily volume of 3,454 put options.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that CVS Health Corporation will post $5.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio is presently 41.67%.
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Several research analysts recently weighed in on the company. Vetr lowered CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price target on the stock. in a research report on Thursday, April 27th. Tigress Financial assumed coverage on CVS Health Corporation in a research report on Thursday, April 27th. They set a “buy” rating on the stock. Needham & Company LLC assumed coverage on CVS Health Corporation in a research report on Tuesday, June 27th. They set a “hold” rating on the stock. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Finally, Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the company a “buy” rating in a research report on Tuesday, June 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. CVS Health Corporation presently has an average rating of “Buy” and an average price target of $91.27.
In other news, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the completion of the sale, the executive vice president now owns 59,300 shares in the company, valued at $4,564,914. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,175 shares of company stock valued at $21,632,597. Corporate insiders own 0.61% of the company’s stock.
About CVS Health Corporation
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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