Gateway Investment Advisers LLC cut its holdings in shares of CVS Health Corp (NYSE:CVS) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 761,732 shares of the pharmacy operator’s stock after selling 30,329 shares during the period. Gateway Investment Advisers LLC owned approximately 0.06% of CVS Health worth $41,080,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CVS. Brookmont Capital Management increased its holdings in shares of CVS Health by 3.0% in the fourth quarter. Brookmont Capital Management now owns 5,184 shares of the pharmacy operator’s stock valued at $340,000 after buying an additional 152 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of CVS Health by 19.6% in the fourth quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock valued at $57,000 after buying an additional 156 shares in the last quarter. Clarus Wealth Advisors increased its holdings in shares of CVS Health by 6.9% in the fourth quarter. Clarus Wealth Advisors now owns 2,456 shares of the pharmacy operator’s stock valued at $161,000 after buying an additional 158 shares in the last quarter. Adviser Investments LLC increased its holdings in shares of CVS Health by 5.4% in the fourth quarter. Adviser Investments LLC now owns 3,163 shares of the pharmacy operator’s stock valued at $207,000 after buying an additional 162 shares in the last quarter. Finally, Visionary Asset Management Inc. increased its holdings in shares of CVS Health by 3.8% in the fourth quarter. Visionary Asset Management Inc. now owns 4,911 shares of the pharmacy operator’s stock valued at $322,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 77.50% of the company’s stock.
Several research analysts have issued reports on the company. Wells Fargo & Co cut CVS Health from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $104.00 to $68.00 in a report on Wednesday, February 20th. ValuEngine cut shares of CVS Health from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 2nd. UBS Group lowered their price objective on shares of CVS Health from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, February 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $91.00 price objective on shares of CVS Health in a research report on Thursday, February 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of CVS Health in a research report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $77.62.
In related news, SVP James David Clark sold 1,664 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the sale, the senior vice president now directly owns 8,557 shares in the company, valued at $497,503.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C David Brown II acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired 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 directly owns 16,222 shares of the company’s stock, valued at approximately $862,685.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 23,600 shares of company stock worth $1,270,896. 0.53% of the stock is currently owned by corporate insiders.
Shares of CVS Health stock traded down $0.18 on Wednesday, hitting $52.52. 8,078,483 shares of the company traded hands, compared to its average volume of 10,306,631. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $82.15. The stock has a market cap of $68.94 billion, a P/E ratio of 7.42, a P/E/G ratio of 1.04 and a beta of 0.93.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, beating the consensus estimate of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The business had revenue of $61.65 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the previous year, the company posted $1.48 EPS. CVS Health’s revenue was up 34.8% on a year-over-year basis. On average, equities research analysts expect that CVS Health Corp will post 6.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
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CVS Health 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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