Wagner Bowman Management Corp trimmed its holdings in shares of CVS Health (NYSE:CVS) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,777 shares of the pharmacy operator’s stock after selling 1,420 shares during the quarter. Wagner Bowman Management Corp’s holdings in CVS Health were worth $1,433,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CVS Health by 1.4% during the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after purchasing an additional 1,056,265 shares in the last quarter. FMR LLC raised its stake in CVS Health by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares in the last quarter. Northern Trust Corp raised its stake in CVS Health by 5.5% during the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after purchasing an additional 807,639 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of CVS Health by 8.4% in the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after acquiring an additional 1,100,373 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of CVS Health by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after acquiring an additional 430,377 shares during the period. Institutional investors own 83.97% of the company’s stock.
Several brokerages have recently weighed in on CVS. Needham & Company LLC raised shares of CVS Health from a “buy” rating to a “strong-buy” rating and increased their target price for the company from $88.00 to $100.00 in a research note on Tuesday, January 30th. Mizuho set a $95.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Cowen reaffirmed an “outperform” rating and issued a $99.00 price target (up previously from $81.00) on shares of CVS Health in a research note on Thursday, January 18th. Vetr downgraded shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price target on the stock. in a research note on Tuesday, January 16th. Finally, ValuEngine downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $86.81.
In other news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the transaction, the executive vice president now owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.
NYSE:CVS opened at $63.38 on Friday. CVS Health has a 1-year low of $60.14 and a 1-year high of $84.00. The company has a market cap of $65,599.64, a PE ratio of 10.92, a PEG ratio of 1.07 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 (NYSE:CVS) last released its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The firm had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. During the same quarter last year, the company earned $1.71 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. analysts expect that CVS Health will post 6.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.16%. CVS Health’s payout ratio is 33.90%.
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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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