Asset Dedication LLC Grows Stock Position in CVS Health Co. (NYSE:CVS)

Asset Dedication LLC raised its holdings in shares of CVS Health Co. (NYSE:CVSGet Rating) by 33.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,666 shares of the pharmacy operator’s stock after acquiring an additional 4,208 shares during the quarter. Asset Dedication LLC’s holdings in CVS Health were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. Norges Bank purchased a new stake in CVS Health during the 4th quarter worth about $1,346,805,000. Veritas Asset Management LLP boosted its stake in shares of CVS Health by 30.1% during the 4th quarter. Veritas Asset Management LLP now owns 14,514,784 shares of the pharmacy operator’s stock worth $1,497,345,000 after purchasing an additional 3,361,760 shares during the last quarter. Boston Partners grew its holdings in shares of CVS Health by 39.6% during the fourth quarter. Boston Partners now owns 6,686,484 shares of the pharmacy operator’s stock worth $689,710,000 after buying an additional 1,895,954 shares in the last quarter. State Street Corp raised its position in shares of CVS Health by 2.8% in the fourth quarter. State Street Corp now owns 56,810,314 shares of the pharmacy operator’s stock valued at $5,860,552,000 after buying an additional 1,560,168 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $155,922,000. 78.00% of the stock is currently owned by institutional investors.

NYSE CVS opened at $93.94 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.70. CVS Health Co. has a fifty-two week low of $79.33 and a fifty-two week high of $111.25. The business has a 50 day moving average price of $95.61 and a two-hundred day moving average price of $101.30. The stock has a market cap of $123.18 billion, a PE ratio of 15.60, a P/E/G ratio of 1.49 and a beta of 0.78.

CVS Health (NYSE:CVSGet Rating) last announced its earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.08. CVS Health had a net margin of 2.67% and a return on equity of 15.33%. The business had revenue of $76.83 billion during the quarter, compared to the consensus estimate of $75.30 billion. During the same period in the prior year, the firm earned $2.04 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that CVS Health Co. will post 8.34 EPS for the current fiscal year.

In other news, EVP Thomas M. Moriarty sold 138,654 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total value of $13,172,130.00. Following the completion of the sale, the executive vice president now owns 626,273 shares of the company’s stock, valued at approximately $59,495,935. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel P. Finke sold 55,359 shares of CVS Health stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $100.13, for a total value of $5,543,096.67. Following the completion of the transaction, the executive vice president now owns 3,098 shares of the company’s stock, valued at $310,202.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 210,967 shares of company stock worth $20,495,397. Insiders own 0.69% of the company’s stock.

CVS has been the topic of a number of recent analyst reports. Tigress Financial increased their price target on CVS Health from $122.00 to $125.00 in a research note on Thursday, April 7th. Loop Capital assumed coverage on CVS Health in a research note on Thursday, June 16th. They issued a “buy” rating and a $120.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CVS Health from $110.00 to $113.00 in a research note on Thursday, May 5th. Sanford C. Bernstein downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $122.00 to $112.00 in a report on Thursday, May 26th. Finally, StockNews.com initiated coverage on shares of CVS Health in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.05.

CVS Health Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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

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