Sumitomo Life Insurance Co. raised its holdings in CVS Health Corporation (NYSE:CVS) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,633 shares of the pharmacy operator’s stock after acquiring an additional 1,038 shares during the period. Sumitomo Life Insurance Co.’s holdings in CVS Health Corporation were worth $1,982,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in CVS Health Corporation by 3.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after acquiring an additional 5,478 shares during the last quarter. Fiduciary Trust Co. raised its holdings in CVS Health Corporation by 1.2% in the 1st quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after acquiring an additional 4,265 shares during the last quarter. British Columbia Investment Management Corp raised its holdings in CVS Health Corporation by 3.7% in the 1st quarter. British Columbia Investment Management Corp now owns 561,299 shares of the pharmacy operator’s stock valued at $44,062,000 after acquiring an additional 19,794 shares during the last quarter. Independent Advisor Alliance raised its holdings in CVS Health Corporation by 6.7% in the 1st quarter. Independent Advisor Alliance now owns 26,460 shares of the pharmacy operator’s stock valued at $2,038,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in CVS Health Corporation by 1.1% in the 1st quarter. Bahl & Gaynor Inc. now owns 14,922 shares of the pharmacy operator’s stock valued at $1,171,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Helena Foulkes sold 20,333 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the sale, 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. Insiders have sold 716,411 shares of company stock valued at $58,277,271 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

CVS has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 price objective on shares of CVS Health Corporation in a report on Friday, June 9th. Cowen and Company reiterated an “outperform” rating and issued a $86.00 price objective on shares of CVS Health Corporation in a report on Tuesday, June 13th. Royal Bank Of Canada initiated coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective for the company. ValuEngine downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. CVS Health Corporation has a consensus rating of “Buy” and an average price target of $90.58.

CVS Health Corporation (NYSE:CVS) opened at 79.63 on Friday. The firm has a 50-day moving average of $79.11 and a 200 day moving average of $78.98. The stock has a market cap of $80.95 billion, a PE ratio of 15.86 and a beta of 0.92. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $90.85.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The firm had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.36 billion. During the same quarter in the prior year, the business posted $1.32 earnings per share. CVS Health Corporation’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts anticipate that CVS Health Corporation will post $5.88 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is 39.92%.

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CVS Health Corporation 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.

Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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