CVS Health (CVS) Position Increased by Flippin Bruce & Porter Inc.

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.

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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.

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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