Selway Asset Management grew its holdings in shares of CVS Health (NYSE:CVS) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,978 shares of the pharmacy operator’s stock after purchasing an additional 2,000 shares during the period. CVS Health comprises about 2.2% of Selway Asset Management’s portfolio, making the stock its 13th biggest position. Selway Asset Management’s holdings in CVS Health were worth $3,696,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. FIL Ltd lifted its holdings in shares of CVS Health by 13.8% during the second quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock worth $41,424,000 after purchasing an additional 62,318 shares during the period. ETRADE Capital Management LLC lifted its holdings in CVS Health by 3.7% in the second quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock valued at $4,478,000 after acquiring an additional 1,979 shares during the period. Ally Financial Inc. lifted its holdings in CVS Health by 20.0% in the second quarter. Ally Financial Inc. now owns 90,000 shares of the pharmacy operator’s stock valued at $7,241,000 after acquiring an additional 15,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in CVS Health by 17.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 77,859 shares of the pharmacy operator’s stock valued at $5,645,000 after acquiring an additional 11,800 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in CVS Health by 13.1% in the third quarter. Prudential Financial Inc. now owns 3,332,567 shares of the pharmacy operator’s stock valued at $271,004,000 after acquiring an additional 386,036 shares during the period. Institutional investors own 83.97% of the company’s stock.
In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $71.04, for a total value of $1,418,313.60. Following the transaction, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.
A number of research analysts have recently weighed in on CVS shares. Needham & Company LLC upgraded CVS Health from a “buy” rating to a “strong-buy” rating and raised their price target for the company from $88.00 to $100.00 in a research report on Tuesday, January 30th. Bank of America started coverage on CVS Health in a research report on Tuesday, February 27th. They set a “buy” rating and a $91.00 price objective for the company. Raymond James Financial raised CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a research note on Thursday, January 4th. They noted that the move was a valuation call. Citigroup set a $77.00 price objective on CVS Health and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Finally, ValuEngine lowered CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and an average target price of $86.81.
Shares of CVS Health stock opened at $63.38 on Friday. The firm has a market capitalization of $65,214.11, a PE ratio of 10.74, a PEG ratio of 1.06 and a beta of 1.05. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. CVS Health has a fifty-two week low of $60.14 and a fifty-two week high of $84.00.
CVS Health (NYSE:CVS) last announced its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The company had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. CVS Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 earnings per share. equities analysts anticipate that CVS Health will post 6.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, April 20th. CVS Health’s payout ratio is 33.90%.
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CVS Health 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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