Commerce Bank Decreases Stake in CVS Health (CVS)

Commerce Bank lessened its position in CVS Health (NYSE:CVS) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,411 shares of the pharmacy operator’s stock after selling 6,581 shares during the quarter. Commerce Bank’s holdings in CVS Health were worth $4,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of CVS Health by 3.8% in the fourth quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock valued at $4,857,249,000 after acquiring an additional 2,430,476 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CVS Health by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 10,868,331 shares of the pharmacy operator’s stock valued at $786,322,000 after acquiring an additional 235,357 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CVS Health by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after acquiring an additional 430,377 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of CVS Health by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock valued at $776,147,000 after acquiring an additional 126,183 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of CVS Health by 4.7% in the fourth quarter. Macquarie Group Ltd. now owns 9,219,365 shares of the pharmacy operator’s stock valued at $668,688,000 after acquiring an additional 414,086 shares in the last quarter. Institutional investors and hedge funds own 83.34% of the company’s stock.

CVS stock opened at $65.50 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59. The firm has a market cap of $66.00 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02. CVS Health has a 52-week low of $60.14 and a 52-week high of $84.00.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.77 billion. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. equities research analysts anticipate that CVS Health will post 6.99 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.05%. CVS Health’s dividend payout ratio (DPR) is 33.90%.

CVS has been the subject of several recent research reports. Needham & Company LLC set a $98.00 price target on CVS Health and gave the company a “buy” rating in a report on Friday, February 9th. Leerink Swann set a $85.00 price target on CVS Health and gave the company a “buy” rating in a report on Friday, February 9th. Citigroup set a $77.00 price target on CVS Health and gave the company a “neutral” rating in a report on Tuesday, February 13th. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 8th. Finally, Bank of America initiated coverage on CVS Health in a report on Tuesday, February 27th. They issued a “buy” rating and a $91.00 price target for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven 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 a consensus target price of $86.27.

In other CVS Health news, Director C David Brown II bought 10,000 shares of the business’s stock in a transaction on Friday, May 4th. The stock was bought at an average price of $61.99 per share, with a total value of $619,900.00. Following the completion of the purchase, the director now directly owns 101,252 shares in the company, valued at $6,276,611.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

About CVS Health

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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