Raab & Moskowitz Asset Management LLC trimmed its position in CVS Health (NYSE:CVS) by 23.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,821 shares of the pharmacy operator’s stock after selling 7,163 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in CVS Health were worth $1,654,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Tavio Capital LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $24,471,000. RiverPoint Capital Management LLC raised its position in shares of CVS Health by 20.1% in the 4th quarter. RiverPoint Capital Management LLC now owns 5,694 shares of the pharmacy operator’s stock valued at $413,000 after acquiring an additional 953 shares during the period. LVW Advisors LLC increased its stake in CVS Health by 9.4% during the 4th quarter. LVW Advisors LLC now owns 31,103 shares of the pharmacy operator’s stock worth $2,255,000 after purchasing an additional 2,666 shares in the last quarter. Spark Investment Management LLC bought a new stake in CVS Health during the 4th quarter worth approximately $2,044,000. Finally, RiverGlades Family Offices LLC bought a new stake in CVS Health during the 4th quarter worth approximately $204,000. Institutional investors and hedge funds own 83.97% of the company’s stock.
In related news, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by company insiders.
Shares of CVS opened at $66.61 on Thursday. The company has a market cap of $67,060.56, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. CVS Health has a twelve month low of $60.14 and a twelve month high of $84.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.52.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. The company had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.71 EPS. sell-side analysts expect that CVS Health will post 6.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.00%. CVS Health’s dividend payout ratio is currently 33.90%.
A number of analysts recently issued reports on CVS shares. Needham & Company LLC raised CVS Health from a “buy” rating to a “strong-buy” rating and increased their target price for the stock from $88.00 to $100.00 in a research note on Tuesday, January 30th. Bank of America started coverage on CVS Health in a research note on Tuesday, February 27th. They set a “buy” rating and a $91.00 target price for the company. Raymond James raised CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 target price for the company in a research note on Thursday, January 4th. They noted that the move was a valuation call. Citigroup set a $77.00 target price on CVS Health and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Finally, ValuEngine cut 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 issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.65.
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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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