Norway Savings Bank lowered its position in shares of CVS Health Corp (NYSE:CVS) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,974 shares of the pharmacy operator’s stock after selling 980 shares during the quarter. CVS Health accounts for approximately 1.1% of Norway Savings Bank’s investment portfolio, making the stock its 27th largest position. Norway Savings Bank’s holdings in CVS Health were worth $1,158,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CVS. Beach Investment Management LLC. bought a new position in CVS Health during the second quarter valued at about $2,224,000. Comerica Bank boosted its position in shares of CVS Health by 64.8% in the 2nd quarter. Comerica Bank now owns 563,978 shares of the pharmacy operator’s stock valued at $43,484,000 after purchasing an additional 221,826 shares during the period. Allegis Investment Advisors LLC boosted its position in shares of CVS Health by 0.9% in the 2nd quarter. Allegis Investment Advisors LLC now owns 23,562 shares of the pharmacy operator’s stock valued at $1,896,000 after purchasing an additional 205 shares during the period. GW Henssler & Associates Ltd. boosted its position in shares of CVS Health by 3.9% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 165,734 shares of the pharmacy operator’s stock valued at $13,335,000 after purchasing an additional 6,216 shares during the period. Finally, Highstreet Asset Management Inc. boosted its position in shares of CVS Health by 752.5% in the 2nd quarter. Highstreet Asset Management Inc. now owns 40,270 shares of the pharmacy operator’s stock valued at $3,241,000 after purchasing an additional 35,546 shares during the period. 83.23% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.
Shares of CVS Health Corp (NYSE:CVS) opened at $70.66 on Wednesday. The stock has a market capitalization of $72,944.85, a PE ratio of 10.92, a P/E/G ratio of 1.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.52. CVS Health Corp has a one year low of $66.45 and a one year high of $84.00.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. The firm had revenue of $48.39 billion during the quarter, compared to the consensus estimate of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.71 EPS. analysts predict that CVS Health Corp will post 6.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, January 23rd. CVS Health’s dividend payout ratio is currently 30.91%.
CVS has been the subject of a number of recent analyst reports. Mizuho set a $90.00 price target on CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. Robert W. Baird reiterated a “hold” rating and issued a $77.00 price target on shares of CVS Health in a research report on Friday, October 27th. Loop Capital reiterated a “hold” rating on shares of CVS Health in a research report on Friday, October 27th. Cowen set a $86.00 price target on CVS Health and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, TheStreet lowered CVS Health from a “b-” rating to a “c+” rating in a research report on Tuesday, October 31st. 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 given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $87.82.
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About CVS Health
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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