CVS Health Corporation (CVS) Holdings Cut by Heritage Investors Management Corp
Heritage Investors Management Corp lessened its holdings in CVS Health Corporation (NYSE:CVS) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,378 shares of the pharmacy operator’s stock after selling 195 shares during the period. Heritage Investors Management Corp’s holdings in CVS Health Corporation were worth $352,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Mercer Capital Advisers Inc. bought a new position in CVS Health Corporation in the first quarter valued at about $118,000. SRS Capital Advisors Inc. grew its position in CVS Health Corporation by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after acquiring an additional 734 shares during the last quarter. Cue Financial Group Inc. grew its position in CVS Health Corporation by 3.6% in the first quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock valued at $213,000 after acquiring an additional 95 shares during the last quarter. Pettee Investors Inc. bought a new position in CVS Health Corporation in the first quarter valued at about $214,000. Finally, Sfmg LLC grew its position in CVS Health Corporation by 7.3% in the first quarter. Sfmg LLC now owns 2,940 shares of the pharmacy operator’s stock valued at $231,000 after acquiring an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.
A number of research firms have issued reports on CVS. Royal Bank Of Canada began coverage on CVS Health Corporation in a research report on Tuesday. They issued an “outperform” rating and a $95.00 target price on the stock. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. reduced their price target on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. Jefferies Group LLC boosted their price target on CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, September 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.58.
Shares of CVS Health Corporation (CVS) traded up 0.764% during trading on Wednesday, reaching $83.735. The company’s stock had a trading volume of 1,389,915 shares. The stock has a market cap of $85.12 billion, a price-to-earnings ratio of 16.680 and a beta of 0.92. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $90.85. The stock’s 50 day moving average price is $79.11 and its 200-day moving average price is $78.98.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period last year, the company earned $1.32 EPS. CVS Health Corporation’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts anticipate that CVS Health Corporation will post $5.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be given a $0.50 dividend. The ex-dividend date is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.41%. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
In other news, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total value of $199,050.00. Following the sale, the director now directly owns 3,258 shares in the company, valued at approximately $259,401.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now owns 299,255 shares in the company, valued at $24,859,112.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 716,411 shares of company stock worth $58,277,271. Corporate 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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