Fulton Bank N.A. cut its holdings in CVS Health Corp (NYSE:CVS) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,789 shares of the pharmacy operator’s stock after selling 761 shares during the period. Fulton Bank N.A.’s holdings in CVS Health were worth $1,985,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bell Rock Capital LLC boosted its holdings in CVS Health by 764.0% in the 4th quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 382 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new stake in CVS Health in the 4th quarter valued at approximately $30,000. Acima Private Wealth LLC purchased a new stake in CVS Health in the 4th quarter valued at approximately $33,000. Murphy Pohlad Asset Management LLC purchased a new stake in CVS Health in the 4th quarter valued at approximately $39,000. Finally, Cornerstone Advisors Inc. boosted its holdings in CVS Health by 71.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock valued at $40,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.
CVS traded up $0.19 during trading on Wednesday, hitting $53.71. The company’s stock had a trading volume of 7,797,833 shares, compared to its average volume of 12,871,763. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95. The company has a market capitalization of $68.70 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.93. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.12. The company had revenue of $61.65 billion during the quarter, compared to the consensus estimate of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. CVS Health’s revenue was up 34.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. As a group, equities research analysts forecast that CVS Health Corp will post 6.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a $0.50 dividend. The ex-dividend date was Monday, April 22nd. This represents a $2.00 annualized dividend and a yield of 3.72%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
In other news, Director Edward J. Ludwig acquired 4,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $58.27 per share, for a total transaction of $233,080.00. Following the acquisition, the director now directly owns 5,378 shares in the company, valued at approximately $313,376.06. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director C David Brown II acquired 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $53.18 per share, with a total value of $531,800.00. Following the completion of the acquisition, the director now owns 16,222 shares in the company, valued at $862,685.96. The disclosure for this purchase can be found here. Insiders acquired a total of 23,600 shares of company stock valued at $1,270,896 over the last quarter. 0.53% of the stock is currently owned by insiders.
CVS has been the topic of a number of analyst reports. Citigroup set a $74.00 price objective on CVS Health and gave the company a “buy” rating in a report on Thursday, May 2nd. Argus decreased their price target on CVS Health from $100.00 to $80.00 and set a “positive” rating on the stock in a research note on Monday, February 25th. Sanford C. Bernstein began coverage on CVS Health in a research note on Tuesday, March 12th. They set an “outperform” rating and a $76.00 price target on the stock. Wells Fargo & Co lowered CVS Health from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $104.00 to $68.00 in a research note on Wednesday, February 20th. Finally, Credit Suisse Group lowered CVS Health from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $73.00 to $61.00 in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and an average target price of $77.62.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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