Page Arthur B cut its holdings in CVS Health Corp (NYSE:CVS) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,430 shares of the pharmacy operator’s stock after selling 869 shares during the quarter. CVS Health comprises about 2.9% of Page Arthur B’s investment portfolio, making the stock its 14th biggest holding. Page Arthur B’s holdings in CVS Health were worth $3,293,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Beach Investment Management LLC. purchased a new position in CVS Health in the 2nd quarter worth about $2,224,000. Eaton Vance Management increased its stake in CVS Health by 3.4% in the 2nd quarter. Eaton Vance Management now owns 1,894,052 shares of the pharmacy operator’s stock worth $152,395,000 after purchasing an additional 62,204 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in CVS Health by 0.6% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock worth $232,000 after purchasing an additional 18 shares in the last quarter. Systematic Financial Management LP grew its stake in CVS Health by 68.4% during the 2nd quarter. Systematic Financial Management LP now owns 27,679 shares of the pharmacy operator’s stock valued at $2,227,000 after acquiring an additional 11,247 shares in the last quarter. Finally, AXA grew its stake in CVS Health by 11.0% during the 2nd quarter. AXA now owns 593,618 shares of the pharmacy operator’s stock valued at $47,763,000 after acquiring an additional 58,628 shares in the last quarter. Hedge funds and other institutional investors own 83.96% of the company’s stock.
In related news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now directly owns 65,072 shares in the company, valued at approximately $4,622,714.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.
Shares of CVS Health stock opened at $62.42 on Thursday. The company has a market capitalization of $63,854.64, a P/E ratio of 9.65, a P/E/G ratio of 1.04 and a beta of 1.03. CVS Health Corp has a 12 month low of $61.87 and a 12 month high of $84.00. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The business had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.71 EPS. research analysts expect that CVS Health Corp will post 6.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.20%. CVS Health’s payout ratio is 30.91%.
Several equities analysts have weighed in on CVS shares. Jefferies Group set a $76.00 target price on CVS Health and gave the company a “hold” rating in a research note on Monday, December 4th. Robert W. Baird lowered their target price on CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Vetr cut CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price on the stock. in a research note on Thursday, January 4th. Finally, Royal Bank of Canada set a $95.00 target price on CVS Health and gave the company a “buy” rating in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $87.03.
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CVS Health 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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