Paragon Capital Management LLC increased its stake in CVS Health Corporation (NYSE:CVS) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 138,575 shares of the pharmacy operator’s stock after buying an additional 11,889 shares during the period. CVS Health Corporation makes up 3.4% of Paragon Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Paragon Capital Management LLC’s holdings in CVS Health Corporation were worth $10,878,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Mercer Capital Advisers Inc. acquired a new stake in shares of CVS Health Corporation during the first quarter worth about $118,000. Sowell Financial Services LLC bought a new position in CVS Health Corporation during the fourth quarter valued at approximately $140,000. Patriot Financial Group Insurance Agency LLC bought a new position in CVS Health Corporation during the fourth quarter valued at approximately $156,000. Orrstown Financial Services Inc. increased its position in CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock valued at $165,000 after buying an additional 2,000 shares during the period. Finally, Edmp Inc. bought a new position in CVS Health Corporation during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.
Shares of CVS Health Corporation (CVS) traded down 1.56% during mid-day trading on Friday, reaching $77.66. 5,005,371 shares of the company traded hands. The stock’s 50-day moving average is $78.68 and its 200-day moving average is $78.94. The company has a market capitalization of $78.95 billion, a P/E ratio of 15.47 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.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same period last year, the firm posted $1.32 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts predict 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. Stockholders of record on Monday, July 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.58%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
Several research analysts have commented on CVS shares. Evercore ISI reissued an “outperform” rating and set a $88.00 price objective (up previously from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price objective for the company in a report on Wednesday, May 17th. ValuEngine downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Tigress Financial began coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They issued a “buy” rating for the company. Finally, Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $91.24.
In other news, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction dated 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 sale, the chief financial officer now owns 176,983 shares of the company’s stock, valued at $14,158,640. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,675 shares of company stock valued at $21,831,647. Insiders own 0.61% of the company’s stock.
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.
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