CVS Health Corporation (CVS) Position Boosted by Pennsylvania Trust Co
Pennsylvania Trust Co boosted its position in CVS Health Corporation (NYSE:CVS) by 38.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,995 shares of the pharmacy operator’s stock after buying an additional 48,265 shares during the period. Pennsylvania Trust Co’s holdings in CVS Health Corporation were worth $14,000,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. bought a new stake in CVS Health Corporation in the first quarter valued at $118,000. SRS Capital Advisors Inc. increased its stake 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 purchasing an additional 734 shares in the last quarter. Cue Financial Group Inc. increased its stake 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 purchasing an additional 95 shares in the last quarter. Pettee Investors Inc. bought a new stake in CVS Health Corporation in the first quarter valued at $214,000. Finally, Sfmg LLC increased its stake 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 purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.
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In other CVS Health Corporation news, 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 transaction of $1,626,640.00. Following the completion of the sale, the executive vice president now directly owns 59,301 shares in the company, valued at approximately $4,744,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the sale, the insider now owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 716,411 shares of company stock valued at $58,277,271. 0.61% of the stock is owned by company insiders.
Several research firms have weighed in on CVS. Royal Bank Of Canada began coverage on shares of CVS Health Corporation in a research note on Tuesday. They issued an “outperform” rating and a $95.00 price target for the company. Jefferies Group LLC lifted their price target on shares of CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, September 15th. Needham & Company LLC began coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating for the company. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Finally, Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $90.58.
CVS Health Corporation (NYSE:CVS) traded up 0.09% on Friday, reaching $79.63. 6,534,109 shares of the company traded hands. The company has a market capitalization of $80.95 billion, a PE ratio of 15.86 and a beta of 0.92. The stock’s 50 day moving average price is $79.11 and its 200 day moving average price is $78.98. CVS Health Corporation has a one year low of $69.30 and a one year high of $90.85.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. CVS Health Corporation’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. On average, equities research analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.51%. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
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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