Comerica Bank decreased its position in shares of CVS Health (NYSE:CVS) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 466,688 shares of the pharmacy operator’s stock after selling 89,077 shares during the period. Comerica Bank’s holdings in CVS Health were worth $37,765,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC increased its stake in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC increased its stake in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 991 shares during the period. Arcadia Investment Management Corp MI increased its stake in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares during the period. MPS Loria Financial Planners LLC bought a new stake in CVS Health in the second quarter valued at about $119,000. Finally, Cerebellum GP LLC bought a new stake in CVS Health in the fourth quarter valued at about $130,000. 83.97% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Helena Foulkes sold 19,965 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were 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 in the company, valued at $4,622,714.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.
A number of analysts recently weighed in on CVS shares. Mizuho set a $95.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. SunTrust Banks upped their price objective on shares of CVS Health to $90.00 and gave the stock a “buy” rating in a research note on Friday, January 5th. Needham & Company LLC upped their price objective on shares of CVS Health from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a research note on Tuesday, December 26th. Finally, Royal Bank of Canada set a $89.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health has a consensus rating of “Buy” and a consensus target price of $86.81.
Shares of CVS stock traded down $1.28 during trading hours on Friday, reaching $63.38. 5,114,814 shares of the company were exchanged, compared to its average volume of 7,846,283. CVS Health has a fifty-two week low of $60.14 and a fifty-two week high of $84.00. The firm has a market capitalization of $64,301.04, a price-to-earnings ratio of 10.74, a PEG ratio of 1.05 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.59.
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 the Zacks’ consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The company had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. During the same period in the prior year, the business earned $1.71 earnings per share. CVS Health’s quarterly revenue was up 5.3% on a year-over-year basis. equities research analysts forecast that CVS Health will post 6.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be issued a $0.50 dividend. The ex-dividend date is Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.16%. CVS Health’s dividend payout ratio is currently 33.90%.
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About CVS Health
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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