Stratos Wealth Partners LTD. Decreases Stake in CVS Health Corp (CVS)
Stratos Wealth Partners LTD. decreased its stake in shares of CVS Health Corp (NYSE:CVS) by 8.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 78,731 shares of the pharmacy operator’s stock after selling 7,160 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in CVS Health were worth $6,402,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in CVS Health by 1.4% during the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock worth $6,159,825,000 after buying an additional 1,056,265 shares in the last quarter. FMR LLC increased its stake in CVS Health by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after acquiring an additional 5,446,930 shares during the last quarter. Northern Trust Corp increased its stake in CVS Health by 5.5% during the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock worth $1,256,631,000 after acquiring an additional 807,639 shares during the last quarter. Nordea Investment Management AB increased its stake in CVS Health by 8.4% during the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after acquiring an additional 1,100,373 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in CVS Health by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 10,579,307 shares of the pharmacy operator’s stock worth $860,309,000 after acquiring an additional 481,262 shares during the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.
CVS has been the subject of several recent analyst reports. Oppenheimer reissued a “buy” rating and set a $95.00 target price on shares of CVS Health in a research note on Monday, October 9th. Needham & Company LLC reissued a “hold” rating on shares of CVS Health in a research note on Thursday, October 12th. SunTrust Banks set a $85.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Thursday, October 12th. Jefferies Group set a $86.00 target price on CVS Health and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Mizuho set a $90.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $87.25.
In other news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.
Shares of CVS Health Corp (CVS) opened at $79.50 on Thursday. CVS Health Corp has a one year low of $66.45 and a one year high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $80,530.00, a price-to-earnings ratio of 16.43, a PEG ratio of 1.25 and a beta of 0.90.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. sell-side analysts predict that CVS Health Corp will post 5.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.52%. CVS Health’s payout ratio is presently 41.32%.
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CVS Health 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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