Sheaff Brock Investment Advisors LLC increased its stake in CVS Health (NYSE:CVS) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,472 shares of the pharmacy operator’s stock after buying an additional 1,001 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in CVS Health were worth $1,211,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt lifted its position in CVS Health by 17.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 77,859 shares of the pharmacy operator’s stock worth $5,645,000 after buying an additional 11,800 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of CVS Health by 14.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 9,063 shares of the pharmacy operator’s stock worth $657,000 after purchasing an additional 1,150 shares during the last quarter. BancorpSouth Bank bought a new stake in shares of CVS Health during the fourth quarter worth $2,389,000. Ameriprise Financial Inc. lifted its position in shares of CVS Health by 30.2% during the third quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock worth $648,683,000 after purchasing an additional 1,849,593 shares during the last quarter. Finally, American International Group Inc. lifted its position in shares of CVS Health by 1,342.0% during the fourth quarter. American International Group Inc. now owns 7,081,461 shares of the pharmacy operator’s stock worth $513,406,000 after purchasing an additional 6,590,370 shares during the last quarter. Institutional investors own 83.96% of the company’s stock.
CVS stock opened at $66.13 on Thursday. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $66.94 billion, a P/E ratio of 10.57, a PEG ratio of 0.98 and a beta of 1.02. CVS Health has a 1-year low of $65.60 and a 1-year high of $66.34.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.09. The firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.77 billion. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. sell-side analysts anticipate that CVS Health will post 6.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 3rd. Investors of record on Monday, April 23rd were issued a $0.50 dividend. The ex-dividend date was Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.02%. CVS Health’s payout ratio is currently 33.90%.
Several analysts have recently weighed in on CVS shares. Loop Capital set a $68.00 target price on CVS Health and gave the stock a “hold” rating in a research report on Monday, May 7th. ValuEngine downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Bank of America decreased their target price on CVS Health from $91.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, April 11th. Mizuho set a $95.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Cowen reiterated an “outperform” rating and set a $99.00 target price (up from $81.00) on shares of CVS Health in a research report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $86.27.
In related news, EVP Helena Foulkes sold 19,965 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C David Brown II acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was purchased at an average price of $61.99 per share, with a total value of $619,900.00. Following the completion of the acquisition, the director now directly owns 101,252 shares of the company’s stock, valued at $6,276,611.48. The disclosure for this purchase can be found here. Insiders own 0.53% of the company’s stock.
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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