First Wilshire Securities Management Inc. Has $310,000 Stake in CVS Health Corporation (NYSE:CVS)
First Wilshire Securities Management Inc. held its position in CVS Health Corporation (NYSE:CVS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,950 shares of the pharmacy operator’s stock at the end of the first quarter. First Wilshire Securities Management Inc.’s holdings in CVS Health Corporation were worth $310,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC raised its position in CVS Health Corporation by 14.8% in the first quarter. Signaturefd LLC now owns 7,933 shares of the pharmacy operator’s stock valued at $623,000 after buying an additional 1,024 shares during the last quarter. Sii Investments Inc. WI raised its position in CVS Health Corporation by 16.0% in the first quarter. Sii Investments Inc. WI now owns 19,938 shares of the pharmacy operator’s stock valued at $1,563,000 after buying an additional 2,745 shares during the last quarter. Nippon Life Global Investors Americas Inc. purchased a new position in CVS Health Corporation during the first quarter valued at approximately $6,852,000. Bank of America Corp DE raised its position in CVS Health Corporation by 1.8% in the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock valued at $1,759,338,000 after buying an additional 398,999 shares during the last quarter. Finally, Keel Point LLC raised its position in CVS Health Corporation by 0.7% in the first quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock valued at $259,000 after buying an additional 22 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.
CVS Health Corporation (NYSE:CVS) traded up 0.34% during mid-day trading on Friday, hitting $79.41. The company had a trading volume of 2,985,502 shares. The company has a 50-day moving average price of $78.83 and a 200 day moving average price of $78.96. 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 $80.73 billion, a P/E ratio of 15.82 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 EPS. On average, analysts forecast that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The firm also recently declared 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 2.52%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio is presently 39.92%.
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Several research analysts have commented on the stock. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a research note on Friday, July 14th. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Needham & Company LLC assumed coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They set a “hold” rating for the company. Finally, Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $91.27.
In related news, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Helena Foulkes sold 20,333 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $80.00, for a total value of $1,626,640.00. Following the transaction, the executive vice president now owns 59,301 shares of the company’s stock, valued at $4,744,080. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 271,175 shares of company stock valued at $21,632,597. Company insiders own 0.61% of the company’s stock.
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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