RB Capital Management LLC decreased its position in shares of CVS Health Corporation (NYSE:CVS) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,444 shares of the pharmacy operator’s stock after selling 1,692 shares during the period. RB Capital Management LLC’s holdings in CVS Health Corporation were worth $506,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the company. HCR Wealth Advisors purchased a new position in CVS Health Corporation during the fourth quarter worth about $341,000. AQR Capital Management LLC boosted its position in CVS Health Corporation by 38.3% in the fourth quarter. AQR Capital Management LLC now owns 828,085 shares of the pharmacy operator’s stock worth $65,344,000 after buying an additional 229,233 shares during the last quarter. Guggenheim Capital LLC boosted its position in CVS Health Corporation by 24.9% in the fourth quarter. Guggenheim Capital LLC now owns 1,141,438 shares of the pharmacy operator’s stock worth $90,070,000 after buying an additional 227,688 shares during the last quarter. Banco Santander S.A. purchased a new position in CVS Health Corporation during the fourth quarter worth about $835,000. Finally, Ancora Advisors LLC boosted its stake in shares of CVS Health Corporation by 331.9% in the fourth quarter. Ancora Advisors LLC now owns 62,773 shares of the pharmacy operator’s stock valued at $4,953,000 after buying an additional 48,238 shares in the last quarter. Institutional investors and hedge funds own 82.31% of the company’s stock.
CVS Health Corporation (NYSE CVS) traded down 1.56% during trading on Friday, reaching $77.66. The company had a trading volume of 5,005,371 shares. The stock has a 50 day moving average price of $78.68 and a 200 day moving average price of $78.94. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.44. The firm has a market capitalization of $78.95 billion, a P/E ratio of 15.47 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s payout ratio is currently 39.92%.
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CVS has been the subject of several analyst reports. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 target price for the company in a report on Wednesday, May 24th. Tigress Financial initiated coverage on CVS Health Corporation in a report on Thursday, April 27th. They issued a “buy” rating for the company. Leerink Swann set a $90.00 price objective on CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Needham & Company LLC initiated coverage on CVS Health Corporation in a report on Tuesday, June 27th. They issued a “hold” rating for the company. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. CVS Health Corporation currently has a consensus rating of “Buy” and an average price target of $91.24.
In other news, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of the firm’s 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 transaction, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,675 shares of company stock worth $21,831,647. 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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