Benjamin F. Edwards & Company Inc. lessened its holdings in shares of CVS Health Corp (NYSE:CVS) by 37.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,218 shares of the pharmacy operator’s stock after selling 14,363 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in CVS Health were worth $1,587,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Bell Rock Capital LLC boosted its holdings in shares of CVS Health by 764.0% in the fourth 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 during the period. Daiwa SB Investments Ltd. purchased a new stake in shares of CVS Health in the fourth quarter valued at approximately $30,000. Cornerstone Advisors Inc. boosted its holdings in shares of CVS Health by 71.6% in the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock valued at $40,000 after purchasing an additional 212 shares during the period. Avestar Capital LLC boosted its holdings in shares of CVS Health by 19.6% in the fourth quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock valued at $57,000 after purchasing an additional 156 shares during the period. Finally, Truewealth LLC boosted its holdings in shares of CVS Health by 78.6% in the fourth quarter. Truewealth LLC now owns 1,004 shares of the pharmacy operator’s stock valued at $66,000 after purchasing an additional 442 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.
A number of analysts recently issued reports on the company. Leerink Swann boosted their price target on CVS Health from $85.00 to $95.00 and gave the company a “positive” rating in a report on Thursday, November 8th. Morgan Stanley set a $100.00 price target on CVS Health and gave the company a “buy” rating in a report on Wednesday, November 7th. Wolfe Research assumed coverage on CVS Health in a report on Thursday, October 25th. They issued a “peer perform” rating for the company. Goldman Sachs Group reiterated a “neutral” rating and issued a $87.00 price target on shares of CVS Health in a report on Thursday, November 29th. Finally, Wells Fargo & Co boosted their price target on CVS Health from $98.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $89.21.
Shares of NYSE:CVS opened at $64.22 on Thursday. The company has a market capitalization of $71.19 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 0.94 and a beta of 1.03. CVS Health Corp has a 52 week low of $60.14 and a 52 week high of $82.15. The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.07. The company had revenue of $54.42 billion during the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. CVS Health’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, sell-side analysts predict that CVS Health Corp will post 6.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 4th. Investors of record on Friday, January 25th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, January 24th. CVS Health’s dividend payout ratio (DPR) is 33.90%.
In related news, CFO David M. Denton sold 25,159 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $80.13, for a total value of $2,015,990.67. Following the completion of the transaction, the chief financial officer now owns 403 shares of the company’s stock, valued at $32,292.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larry J. Merlo sold 166,368 shares of the company’s stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $69.04, for a total value of $11,486,046.72. Following the transaction, the insider now directly owns 496,577 shares in the company, valued at $34,283,676.08. The disclosure for this sale can be found here. Insiders sold 435,534 shares of company stock valued at $29,245,258 in the last three months. 0.53% of the stock is currently owned by insiders.
CVS Health Company Profile
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.
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