Advisor Partners LLC Sells 5,316 Shares of CVS Health (CVS)
Advisor Partners LLC reduced its stake in CVS Health (NYSE:CVS) by 20.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,450 shares of the pharmacy operator’s stock after selling 5,316 shares during the period. Advisor Partners LLC’s holdings in CVS Health were worth $1,272,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Bank of New York Mellon Corp boosted its position in CVS Health by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,579,307 shares of the pharmacy operator’s stock valued at $860,309,000 after buying an additional 481,262 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in CVS Health by 1.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 238,668 shares of the pharmacy operator’s stock valued at $19,408,000 after buying an additional 3,427 shares during the last quarter. Heritage Wealth Advisors boosted its position in CVS Health by 21.2% in the 3rd quarter. Heritage Wealth Advisors now owns 4,979 shares of the pharmacy operator’s stock valued at $406,000 after buying an additional 871 shares during the last quarter. Kwmg LLC boosted its position in CVS Health by 6.8% in the 3rd quarter. Kwmg LLC now owns 20,140 shares of the pharmacy operator’s stock valued at $1,638,000 after buying an additional 1,290 shares during the last quarter. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new position in CVS Health in the 3rd quarter valued at about $3,484,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.
A number of equities analysts have weighed in on the stock. Needham & Company LLC raised shares of CVS Health from a “buy” rating to a “strong-buy” rating and upped their price objective for the company from $88.00 to $100.00 in a research report on Tuesday, January 30th. Mizuho set a $95.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Wednesday, January 24th. Cowen reissued an “outperform” rating and issued a $99.00 price objective (up from $81.00) on shares of CVS Health in a research report on Thursday, January 18th. ValuEngine cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Citigroup set a $77.00 price objective on shares of CVS Health and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has an average rating of “Buy” and a consensus target price of $86.27.
CVS opened at $65.76 on Friday. The stock has a market cap of $66.94 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. CVS Health has a fifty-two week low of $65.60 and a fifty-two week high of $66.34. The company has a current ratio of 2.37, a quick ratio of 1.88 and a debt-to-equity ratio of 1.59.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.77 billion. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. sell-side analysts predict that CVS Health will post 6.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 3rd. Investors of record on Monday, April 23rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.04%. CVS Health’s dividend payout ratio (DPR) is 33.90%.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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