Capital Investment Advisors LLC Buys 1,023 Shares of CVS Health Corporation (CVS)
Capital Investment Advisors LLC grew its stake in CVS Health Corporation (NYSE:CVS) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,479 shares of the pharmacy operator’s stock after purchasing an additional 1,023 shares during the quarter. Capital Investment Advisors LLC’s holdings in CVS Health Corporation were worth $1,085,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. LSV Asset Management lifted its holdings in CVS Health Corporation by 44.2% during the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock worth $359,523,000 after acquiring an additional 1,404,384 shares during the period. Swiss National Bank lifted its holdings in CVS Health Corporation by 26.9% during the first quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock worth $300,373,000 after acquiring an additional 811,100 shares during the period. Karp Capital Management Corp bought a new stake in CVS Health Corporation during the first quarter worth $55,824,000. Thornburg Investment Management Inc. lifted its holdings in CVS Health Corporation by 31.8% during the first quarter. Thornburg Investment Management Inc. now owns 2,712,089 shares of the pharmacy operator’s stock worth $212,899,000 after acquiring an additional 654,058 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in CVS Health Corporation by 6.8% during the first quarter. Clearbridge Investments LLC now owns 9,258,404 shares of the pharmacy operator’s stock worth $726,785,000 after acquiring an additional 589,646 shares during the period. Institutional investors own 81.49% of the company’s stock.
CVS Health Corporation (CVS) traded down 1.04% during trading on Thursday, reaching $79.86. The company had a trading volume of 2,640,743 shares. CVS Health Corporation has a one year low of $69.30 and a one year high of $90.85. The firm’s 50-day moving average price is $79.11 and its 200 day moving average price is $78.98. The firm has a market capitalization of $81.18 billion, a P/E ratio of 15.91 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion for 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 business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. Equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.48%. CVS Health Corporation’s dividend payout ratio is presently 39.92%.
In other news, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the transaction, the chief operating officer now owns 119,555 shares in the company, valued at $9,939,802.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the transaction, the executive vice president now owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 716,411 shares of company stock worth $58,277,271. Insiders own 0.61% of the company’s stock.
A number of brokerages recently commented on CVS. Royal Bank Of Canada began coverage on CVS Health Corporation in a report on Tuesday. They set an “outperform” rating and a $95.00 price target on the stock. Jefferies Group LLC lifted 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. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Loop Capital began coverage on CVS Health Corporation in a report on Thursday, August 24th. They set a “hold” rating and a $83.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $90.58.
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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