Watch Point Trust Co raised its stake in CVS Health Corporation (NYSE:CVS) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,532 shares of the pharmacy operator’s stock after buying an additional 775 shares during the period. CVS Health Corporation makes up about 2.3% of Watch Point Trust Co’s holdings, making the stock its 15th largest position. Watch Point Trust Co’s holdings in CVS Health Corporation were worth $2,457,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Capital Advisers Inc. bought a new stake in shares of CVS Health Corporation during the first quarter worth about $118,000. Gemmer Asset Management LLC boosted its position in CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares in the last quarter. SRS Capital Advisors Inc. acquired a new position in CVS Health Corporation during the fourth quarter worth $120,000. D Orazio & Associates Inc. boosted its position in CVS Health Corporation by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock worth $123,000 after buying an additional 400 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in CVS Health Corporation during the fourth quarter worth $140,000. 81.92% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health Corporation (CVS) opened at 79.41 on Friday. The company has a 50 day moving average price of $78.83 and a 200-day moving average price of $78.96. The stock 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 1-year low of $69.30 and a 1-year high of $98.44.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the 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 last year, the firm earned $1.32 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s payout ratio is currently 39.92%.
CVS has been the subject of a number of research analyst reports. Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Vetr cut CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 target price for the company. in a report on Monday, June 12th. Tigress Financial initiated coverage on CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating for the company. Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, ValuEngine cut CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. CVS Health Corporation presently has a consensus rating of “Buy” and an average target price of $91.27.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the transaction, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Helena Foulkes sold 20,333 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $80.00, for a total value of $1,626,640.00. Following the transaction, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at $4,744,080. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,175 shares of company stock valued at $21,632,597. 0.61% of the stock is currently owned by corporate insiders.
About CVS Health Corporation
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.
What are top analysts saying about CVS Health Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CVS Health Corporation and related companies.