Dowling & Yahnke LLC lowered its stake in shares of CVS Health Corp (NYSE:CVS) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,847 shares of the pharmacy operator’s stock after selling 3,005 shares during the quarter. Dowling & Yahnke LLC’s holdings in CVS Health were worth $5,436,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. lifted its stake in shares of CVS Health by 0.6% during 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 during the last quarter. Traynor Capital Management Inc. increased its position in CVS Health by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock valued at $290,000 after buying an additional 48 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in CVS Health by 0.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock valued at $515,000 after buying an additional 53 shares in the last quarter. Brookstone Capital Management increased its position in CVS Health by 1.8% during the 2nd quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock valued at $254,000 after buying an additional 55 shares in the last quarter. Finally, Mengis Capital Management Inc. increased its position in CVS Health by 0.7% during the 2nd quarter. Mengis Capital Management Inc. now owns 11,415 shares of the pharmacy operator’s stock valued at $918,000 after buying an additional 75 shares in the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on CVS shares. Robert W. Baird reissued a “hold” rating and issued a $77.00 price objective on shares of CVS Health in a report on Friday, October 27th. Needham & Company LLC raised CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.02 to $79.00 in a report on Friday, November 10th. Deutsche Bank reaffirmed a “hold” rating on shares of CVS Health in a report on Tuesday, December 5th. Mizuho set a $90.00 target price on CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 24th. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $87.82.
CVS Health Corp (NYSE CVS) traded down $0.32 during mid-day trading on Wednesday, reaching $69.79. The company’s stock had a trading volume of 6,576,499 shares, compared to its average volume of 9,400,000. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02. The firm has a market capitalization of $70,700.00, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.18 and a beta of 0.92. CVS Health Corp has a one year low of $66.45 and a one year high of $84.00.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The business had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. During the same period in the previous year, the firm posted $1.71 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. analysts predict that CVS Health Corp will post 6.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were issued a $0.50 dividend. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.87%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.
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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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