Metropolitan Life Insurance Co. NY increased its stake in shares of CVS Health Corp (NYSE:CVS) by 29.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,819 shares of the pharmacy operator’s stock after buying an additional 44,351 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in CVS Health were worth $12,634,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Bell Rock Capital LLC boosted its holdings in shares of CVS Health by 764.0% in the 4th quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 382 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new stake in shares of CVS Health in the 4th quarter valued at $30,000. Acima Private Wealth LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at $33,000. Murphy Pohlad Asset Management LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at $39,000. Finally, Cornerstone Advisors Inc. boosted its holdings in shares of CVS Health by 71.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock valued at $40,000 after purchasing an additional 212 shares in the last quarter. 81.55% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the company. UBS Group assumed coverage on CVS Health in a research note on Thursday, January 17th. They issued a “buy” rating and a $75.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $92.00 price target on shares of CVS Health in a research note on Thursday, January 3rd. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 28th. CIBC reiterated a “market perform” rating on shares of CVS Health in a research note on Monday. Finally, Oppenheimer cut CVS Health from an “outperform” rating to a “market perform” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. CVS Health currently has an average rating of “Buy” and an average price target of $79.61.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.07. The business had revenue of $54.42 billion during the quarter, compared to analyst estimates of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. CVS Health’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS. As a group, analysts expect that CVS Health Corp will post 6.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
In related news, insider Larry J. Merlo sold 166,368 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $64.51, for a total transaction of $10,732,399.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David W. Dorman bought 9,600 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $52.71 per share, with a total value of $506,016.00. Following the completion of the transaction, the director now owns 122,302 shares in the company, valued at $6,446,538.42. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 23,600 shares of company stock valued at $1,270,896 and have sold 245,671 shares valued at $15,839,966. 0.53% of the stock is owned by company insiders.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
Read More: Commodities
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.