Covenant Multifamily Offices LLC raised its holdings in shares of CVS Health Corporation (NYSE:CVS) by 2.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 38,306 shares of the pharmacy operator’s stock after purchasing an additional 935 shares during the period. CVS Health Corporation accounts for about 2.0% of Covenant Multifamily Offices LLC’s portfolio, making the stock its 15th largest position. Covenant Multifamily Offices LLC’s holdings in CVS Health Corporation were worth $3,082,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Gemmer Asset Management LLC increased its position in CVS Health Corporation by 15.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares during the period. TB Alternative Assets Ltd. purchased a new position in CVS Health Corporation during the 2nd quarter valued at about $121,000. SRS Capital Advisors Inc. increased its position in CVS Health Corporation by 48.2% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after purchasing an additional 734 shares during the period. Grace & White Inc. NY purchased a new position in CVS Health Corporation during the 2nd quarter valued at about $199,000. Finally, Nadler Financial Group Inc. purchased a new position in CVS Health Corporation during the 2nd quarter valued at about $202,000. 81.64% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the transaction, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas M. Moriarty sold 20,547 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the transaction, the executive vice president now owns 43,178 shares in the company, valued at $3,504,758.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 716,625 shares of company stock worth $58,318,431. Insiders own 0.61% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) opened at 68.53 on Wednesday. CVS Health Corporation has a 52 week low of $68.01 and a 52 week high of $85.49. The firm’s 50-day moving average is $77.52 and its 200 day moving average is $78.45. The firm has a market capitalization of $69.67 billion, a PE ratio of 13.65 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. On average, equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.92%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
A number of research firms have commented on CVS. Robert W. Baird reissued a “hold” rating and set a $77.00 target price on shares of CVS Health Corporation in a research report on Friday, October 27th. Cowen and Company set a $86.00 target price on shares of CVS Health Corporation and gave the company a “buy” rating in a research report on Sunday. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Loop Capital reaffirmed a “hold” rating on shares of CVS Health Corporation in a research report on Friday, October 27th. Finally, Citigroup Inc. cut their price objective on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $87.98.
CVS Health Corporation 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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