ARGI Investment Services LLC decreased its holdings in shares of CVS Health (NYSE:CVS) by 59.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,732 shares of the pharmacy operator’s stock after selling 7,022 shares during the period. ARGI Investment Services LLC’s holdings in CVS Health were worth $281,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of CVS Health by 3.8% during the fourth quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock worth $4,857,249,000 after buying an additional 2,430,476 shares during the period. Geode Capital Management LLC boosted its stake in shares of CVS Health by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 10,868,331 shares of the pharmacy operator’s stock worth $786,322,000 after buying an additional 235,357 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CVS Health by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock worth $882,860,000 after buying an additional 430,377 shares during the period. Bank of New York Mellon Corp raised its holdings in CVS Health by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock worth $776,147,000 after purchasing an additional 126,183 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in CVS Health by 4.7% during the fourth quarter. Macquarie Group Ltd. now owns 9,219,365 shares of the pharmacy operator’s stock worth $668,688,000 after purchasing an additional 414,086 shares in the last quarter. Institutional investors and hedge funds own 83.34% of the company’s stock.
In related news, Director C David Brown II bought 10,000 shares of the company’s stock in a transaction on Friday, May 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $619,900.00. Following the completion of the acquisition, the director now owns 101,252 shares in the company, valued at approximately $6,276,611.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.
Shares of CVS Health stock opened at $65.50 on Tuesday. CVS Health has a 12-month low of $60.14 and a 12-month high of $84.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.37 and a quick ratio of 1.88. The stock has a market capitalization of $66.00 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 0.97 and a beta of 1.02.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.77 billion. During the same period last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. sell-side analysts predict that CVS Health will post 6.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a yield of 3.05%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
CVS has been the subject of several analyst reports. Needham & Company LLC raised shares of CVS Health from a “buy” rating to a “strong-buy” rating and increased their price target for the stock from $88.00 to $100.00 in a report on Tuesday, January 30th. Bank of America initiated coverage on shares of CVS Health in a report on Tuesday, February 27th. They set a “buy” rating and a $91.00 price target for the company. Citigroup set a $77.00 price target on shares of CVS Health and gave the stock a “neutral” rating in a report on Tuesday, February 13th. ValuEngine cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Leerink Swann set a $85.00 price target on shares of CVS Health and gave the stock a “buy” rating in a report on Friday, February 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.27.
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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