Independent Advisor Alliance boosted its position in shares of CVS Health Corporation (NYSE:CVS) by 6.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,460 shares of the pharmacy operator’s stock after purchasing an additional 1,652 shares during the quarter. Independent Advisor Alliance’s holdings in CVS Health Corporation were worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Mercer Capital Advisers Inc. acquired a new position in shares of CVS Health Corporation in the 1st quarter valued at approximately $118,000. Edmp Inc. acquired a new position in shares of CVS Health Corporation in the 1st quarter valued at approximately $202,000. Pinnacle Bank acquired a new position in shares of CVS Health Corporation in the 1st quarter valued at approximately $203,000. Doyle Wealth Management acquired a new position in shares of CVS Health Corporation in the 1st quarter valued at approximately $208,000. Finally, Cue Financial Group Inc. grew its position in shares of CVS Health Corporation by 3.6% in the 1st 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 during the period. 81.55% of the stock is owned by hedge funds and other institutional investors.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the sale, the director now directly owns 3,258 shares of the company’s stock, valued at $259,401.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Denton sold 237,078 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.65, for a total value of $18,883,262.70. Following the transaction, the chief financial officer now owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. Insiders have sold 611,660 shares of company stock worth $49,492,596 over the last three months. 0.61% of the stock is currently owned by insiders.
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Shares of CVS Health Corporation (CVS) opened at 83.17 on Friday. The firm has a market capitalization of $84.55 billion, a price-to-earnings ratio of 16.57 and a beta of 0.92. The stock’s 50 day moving average price is $78.92 and its 200-day moving average price is $78.97. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $90.85.
CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
Several equities analysts recently issued reports on the company. Jefferies Group LLC boosted their price objective on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. BidaskClub downgraded CVS Health Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Loop Capital initiated coverage on CVS Health Corporation in a research report on Thursday, August 24th. They set a “hold” rating and a $83.00 price target for the company. Finally, Citigroup Inc. reduced their price target on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $90.35.
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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