Kovitz Investment Group Partners LLC decreased its stake in shares of CVS Health Corporation (NYSE:CVS) by 99.5% during the first quarter, Holdings Channel reports. The fund owned 3,315 shares of the pharmacy operator’s stock after selling 715,902 shares during the period. Kovitz Investment Group Partners LLC’s holdings in CVS Health Corporation were worth $260,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CVS. Bank of America Corp DE raised its stake in shares of 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. Macquarie Group Ltd. raised its stake in shares of CVS Health Corporation by 2.4% in the first quarter. Macquarie Group Ltd. now owns 9,752,261 shares of the pharmacy operator’s stock valued at $765,534,000 after buying an additional 225,981 shares during the last quarter. Pioneer Investment Management Inc. raised its stake in shares of CVS Health Corporation by 4.6% in the first quarter. Pioneer Investment Management Inc. now owns 8,033,087 shares of the pharmacy operator’s stock valued at $630,598,000 after buying an additional 353,621 shares during the last quarter. Parnassus Investments CA raised its stake in shares of CVS Health Corporation by 2.9% in the first quarter. Parnassus Investments CA now owns 6,237,016 shares of the pharmacy operator’s stock valued at $473,605,000 after buying an additional 175,695 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of CVS Health Corporation by 5.3% in the first quarter. Legal & General Group Plc now owns 5,305,671 shares of the pharmacy operator’s stock valued at $416,484,000 after buying an additional 268,160 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Shares of CVS Health Corporation (CVS) traded up 0.34% on Friday, hitting $79.41. 2,985,502 shares of the company traded hands. The firm’s 50 day moving average price is $78.83 and its 200-day moving average price is $78.96. The stock has a market capitalization of $80.73 billion, a price-to-earnings ratio of 15.82 and a beta of 0.91. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.44.

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, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same quarter in the prior year, the firm posted $1.32 EPS. CVS Health Corporation’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 annualized dividend and a yield of 2.52%. CVS Health Corporation’s payout ratio is presently 39.92%.

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Several equities research analysts have issued reports on CVS shares. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 target price on shares of CVS Health Corporation in a research report on Friday, June 9th. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 target price for the company in a research report on Wednesday, May 24th. Evercore ISI reiterated an “outperform” rating and set a $88.00 target price (up from $87.00) on shares of CVS Health Corporation in a research report on Wednesday, May 3rd. Cowen and Company reissued an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Finally, Tigress Financial started coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They set a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $91.27.

In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the stock in a transaction 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 in the company, valued at $14,158,640. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Helena Foulkes sold 20,332 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $76.98, for a total value 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 approximately $4,564,914. The disclosure for this sale can be found here. Insiders have sold a total of 271,175 shares of company stock worth $21,632,597 in the last 90 days. 0.61% of the stock is currently owned by 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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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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