Level Four Advisory Services LLC cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,222 shares of the pharmacy operator’s stock after selling 954 shares during the period. Level Four Advisory Services LLC’s holdings in CVS Health Corporation were worth $1,488,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of CVS. Searle & CO. raised its position in CVS Health Corporation by 0.4% in the fourth quarter. Searle & CO. now owns 27,498 shares of the pharmacy operator’s stock valued at $2,170,000 after buying an additional 100 shares during the last quarter. Wsfs Capital Management LLC bought a new position in shares of CVS Health Corporation during the fourth quarter valued at approximately $209,000. Macquarie Group Ltd. raised its position in shares of CVS Health Corporation by 16.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,526,280 shares of the pharmacy operator’s stock valued at $751,719,000 after buying an additional 1,359,100 shares in the last quarter. Beacon Financial Group raised its position in shares of CVS Health Corporation by 343.5% in the first quarter. Beacon Financial Group now owns 58,133 shares of the pharmacy operator’s stock valued at $4,583,000 after buying an additional 45,026 shares in the last quarter. Finally, Cacti Asset Management LLC raised its position in shares of CVS Health Corporation by 31.5% in the first quarter. Cacti Asset Management LLC now owns 491,195 shares of the pharmacy operator’s stock valued at $38,731,000 after buying an additional 117,725 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.
CVS Health Corporation (NYSE CVS) traded up 0.34% during midday trading on Friday, reaching $79.41. 1,151,146 shares of the company’s stock were exchanged. The firm has a market capitalization of $80.73 billion, a P/E ratio of 15.82 and a beta of 0.91. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.44. The stock’s 50 day moving average is $78.77 and its 200 day moving average is $78.97.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The business 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 company posted $1.32 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts expect that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. CVS Health Corporation’s payout ratio is currently 39.92%.
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CVS has been the topic of several recent analyst reports. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Vetr lowered shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price objective on the stock. in a report on Monday, June 12th. Tigress Financial initiated coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They issued a “buy” rating on the stock. Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, ValuEngine lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.27.
In other news, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the transaction, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at $14,158,640. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Helena Foulkes sold 20,333 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the transaction, the executive vice president now directly owns 59,301 shares in the company, valued at $4,744,080. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,175 shares of company stock worth $21,632,597. Corporate insiders own 0.61% of the company’s stock.
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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