Flippin Bruce & Porter Inc. lifted its stake in CVS Health (NYSE:CVS) by 53.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,149 shares of the pharmacy operator’s stock after purchasing an additional 45,519 shares during the period. CVS Health makes up 2.0% of Flippin Bruce & Porter Inc.’s investment portfolio, making the stock its 20th largest holding. Flippin Bruce & Porter Inc.’s holdings in CVS Health were worth $9,436,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in CVS Health by 3.8% during the 4th quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock valued at $4,857,249,000 after acquiring an additional 2,430,476 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CVS Health by 4.1% during the 3rd 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in CVS Health by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock valued at $776,147,000 after acquiring an additional 126,183 shares in the last quarter. Veritas Asset Management LLP increased its holdings in CVS Health by 2.8% during the 3rd quarter. Veritas Asset Management LLP now owns 8,674,524 shares of the pharmacy operator’s stock valued at $705,412,000 after acquiring an additional 235,960 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in CVS Health by 30.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock valued at $648,683,000 after acquiring an additional 1,849,593 shares in the last quarter. Hedge funds and other institutional investors own 83.97% of the company’s stock.
In related news, EVP Helena Foulkes sold 19,965 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 65,072 shares in the company, valued at $4,622,714.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.
Several equities analysts have 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 report on Wednesday, January 24th. SunTrust Banks raised their target price on shares of CVS Health to $90.00 and gave the company a “buy” rating in a report on Friday, January 5th. Needham & Company LLC raised their target price on shares of CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Tigress Financial restated a “buy” rating on shares of CVS Health in a report on Tuesday, December 26th. Finally, Royal Bank of Canada set a $89.00 target price on shares of CVS Health and gave the company a “buy” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. CVS Health has a consensus rating of “Buy” and an average price target of $86.65.
Shares of NYSE CVS opened at $67.11 on Wednesday. CVS Health has a 12 month low of $60.14 and a 12 month high of $84.00. The stock has a market cap of $64,351.77, a PE ratio of 11.37, a PEG ratio of 1.05 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 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 during the quarter, compared to the consensus estimate of $47.54 billion. During the same period in the previous year, the firm earned $1.71 earnings per share. CVS Health’s revenue was up 5.3% compared to the same quarter last year. research analysts predict that CVS Health will post 6.3 earnings per share for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a yield of 2.98%. 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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