Ballentine Partners LLC reduced its stake in shares of CVS Health Corp (NYSE:CVS) by 30.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,795 shares of the pharmacy operator’s stock after selling 3,845 shares during the period. Ballentine Partners LLC’s holdings in CVS Health were worth $716,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Fieldpoint Private Securities LLC raised its position in shares of CVS Health by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 1,000 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in shares of CVS Health by 119.6% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after purchasing an additional 726 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of CVS Health during the 2nd quarter worth approximately $119,000. Gemmer Asset Management LLC raised its position in shares of CVS Health by 15.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after purchasing an additional 200 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of CVS Health during the 2nd quarter worth approximately $155,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by insiders.
Several research analysts recently issued reports on CVS shares. Jefferies Group set a $76.00 price objective on CVS Health and gave the stock a “hold” rating in a research report on Monday, December 4th. Royal Bank of Canada assumed coverage on shares of CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price for the company. Vetr cut shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price for the company. in a research note on Thursday, January 4th. Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 target price on shares of CVS Health in a research note on Friday, October 27th. Finally, UBS Group raised shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $86.66.
Shares of CVS Health Corp (CVS) opened at $78.78 on Friday. CVS Health Corp has a 12 month low of $66.45 and a 12 month high of $84.72. The stock has a market cap of $79,800.00, a price-to-earnings ratio of 16.28, a PEG ratio of 1.25 and a beta of 0.90. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The company had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. During the same period in the previous year, the company earned $1.64 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. sell-side analysts predict that CVS Health Corp will post 5.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.54%. CVS Health’s dividend payout ratio is presently 41.32%.
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CVS Health 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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