TRUE Private Wealth Advisors increased its stake in CVS Health Corporation (NYSE:CVS) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,212 shares of the pharmacy operator’s stock after buying an additional 276 shares during the period. TRUE Private Wealth Advisors’ holdings in CVS Health Corporation were worth $580,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Horan Capital Advisors LLC. increased its stake in CVS Health Corporation by 3.2% in the 2nd quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock worth $2,584,000 after buying an additional 1,000 shares during the period. Community Bank N.A. increased its position in CVS Health Corporation by 7.3% during the 2nd quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after purchasing an additional 1,362 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in CVS Health Corporation by 3.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after purchasing an additional 5,478 shares during the period. Midwest Investment Management LLC increased its position in CVS Health Corporation by 6.2% during the 2nd quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after purchasing an additional 1,245 shares during the period. Finally, Fiduciary Trust Co. increased its position in CVS Health Corporation by 1.2% during the 1st quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after purchasing an additional 4,265 shares during the period. 81.64% of the stock is currently owned by institutional investors.
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A number of research firms have commented on CVS. Loop Capital reissued a “hold” rating on shares of CVS Health Corporation in a research report on Friday, October 27th. Needham & Company LLC reissued a “hold” rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $95.00 target price on shares of CVS Health Corporation in a research report on Monday, October 9th. TheStreet downgraded shares of CVS Health Corporation from a “b-” rating to a “c+” rating in a research report on Tuesday. Finally, Citigroup Inc. cut their target price 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 research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $87.98.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data 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. The business had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s payout ratio is currently 39.92%.
In other news, Director Richard J. Swift sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares of the company’s stock, valued at $259,401.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The disclosure for this sale can be found here. Insiders sold 716,625 shares of company stock valued at $58,318,431 over the last three months. Corporate insiders own 0.61% of the company’s stock.
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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