Private Advisor Group LLC reduced its stake in CVS Health Corporation (NYSE:CVS) by 71.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,394 shares of the pharmacy operator’s stock after selling 94,946 shares during the period. Private Advisor Group LLC’s holdings in CVS Health Corporation were worth $2,923,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TB Alternative Assets Ltd. bought a new stake in CVS Health Corporation in the 2nd quarter valued at $121,000. Gemmer Asset Management LLC increased its holdings in CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after acquiring an additional 200 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after acquiring an additional 734 shares during the last quarter. Grace & White Inc. NY bought a new stake in CVS Health Corporation in the 2nd quarter valued at $199,000. Finally, Nadler Financial Group Inc. bought a new stake in CVS Health Corporation in the 2nd quarter valued at $202,000. Institutional investors own 81.42% of the company’s stock.
CVS has been the topic of a number of research reports. SunTrust Banks, Inc. set a $85.00 price target on shares of CVS Health Corporation and gave the company a “buy” rating in a report on Thursday, October 12th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $95.00 price objective on shares of CVS Health Corporation in a research note on Monday, October 9th. Mizuho set a $90.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Cowen and Company set a $86.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a research note on Sunday, October 29th. Finally, Needham & Company LLC raised shares of CVS Health Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.02 to $79.00 in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $85.82.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David M. Denton sold 237,078 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 714,125 shares of company stock valued at $58,119,381. 0.61% of the stock is owned by corporate insiders.
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Shares of CVS Health Corporation (CVS) opened at $70.38 on Tuesday. The stock has a market cap of $71,290.00, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. CVS Health Corporation has a 52-week low of $66.45 and a 52-week high of $84.72.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 EPS. equities research analysts anticipate that CVS Health Corporation will post 5.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were given a $0.50 dividend. The ex-dividend date was Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.84%. CVS Health Corporation’s dividend payout ratio (DPR) is 41.32%.
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.
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