Trust Co. of Toledo NA OH boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,655 shares of the pharmacy operator’s stock after buying an additional 325 shares during the period. Trust Co. of Toledo NA OH’s holdings in CVS Health were worth $2,081,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CVS. United Bank increased its holdings in shares of CVS Health by 21.1% in the 3rd quarter. United Bank now owns 14,209 shares of the pharmacy operator’s stock worth $830,000 after purchasing an additional 2,478 shares in the last quarter. Wealth Alliance increased its holdings in shares of CVS Health by 7.8% in the 3rd quarter. Wealth Alliance now owns 12,330 shares of the pharmacy operator’s stock worth $720,000 after purchasing an additional 889 shares in the last quarter. ExodusPoint Capital Management LP increased its holdings in shares of CVS Health by 47.2% in the 3rd quarter. ExodusPoint Capital Management LP now owns 35,993 shares of the pharmacy operator’s stock worth $2,102,000 after purchasing an additional 11,540 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of CVS Health in the 3rd quarter worth $48,000. Finally, Cribstone Capital Management LLC increased its holdings in shares of CVS Health by 10.0% in the 3rd quarter. Cribstone Capital Management LLC now owns 10,391 shares of the pharmacy operator’s stock worth $607,000 after purchasing an additional 945 shares in the last quarter. 74.21% of the stock is owned by institutional investors.
In other news, EVP Alan Lotvin sold 25,836 shares of CVS Health stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $75.00, for a total value of $1,937,700.00. Following the sale, the executive vice president now directly owns 18,469 shares of the company’s stock, valued at $1,385,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Larry J. Merlo sold 62,893 shares of CVS Health stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $77.00, for a total value of $4,842,761.00. Following the completion of the sale, the chief executive officer now directly owns 586,222 shares in the company, valued at $45,139,094. The disclosure for this sale can be found here. Insiders sold 594,375 shares of company stock worth $44,673,602 over the last 90 days. Company insiders own 0.46% of the company’s stock.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Monday, February 15th. The pharmacy operator reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.06. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The business had revenue of $69.55 billion for the quarter, compared to the consensus estimate of $68.67 billion. During the same period in the previous year, the business earned $1.73 earnings per share. As a group, sell-side analysts predict that CVS Health Co. will post 7.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 23rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.71%. CVS Health’s payout ratio is 28.25%.
A number of research firms have recently issued reports on CVS. SVB Leerink raised their price target on CVS Health from $73.00 to $80.00 and gave the stock a “market perform” rating in a research note on Monday, December 14th. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, January 8th. Finally, Guggenheim restated a “neutral” rating on shares of CVS Health in a research note on Tuesday, March 23rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $82.08.
CVS Health Company Profile
CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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