First Personal Financial Services decreased its position in CVS Health Corp (NYSE:CVS) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,807 shares of the pharmacy operator’s stock after selling 1,136 shares during the period. First Personal Financial Services’ holdings in CVS Health were worth $1,953,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in CVS Health by 5.9% during the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock worth $4,770,597,000 after buying an additional 4,121,620 shares in the last quarter. Parnassus Investments CA boosted its holdings in CVS Health by 2.2% during the second quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock worth $1,072,039,000 after buying an additional 350,872 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CVS Health by 15.9% during the second quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock worth $809,095,000 after buying an additional 1,721,683 shares in the last quarter. Veritas Asset Management LLP boosted its holdings in CVS Health by 4.5% during the second quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock worth $765,149,000 after buying an additional 508,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in CVS Health by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,840,057 shares of the pharmacy operator’s stock worth $697,653,000 after buying an additional 64,223 shares in the last quarter. 82.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVS opened at $79.83 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. The stock has a market cap of $80.25 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.05 and a beta of 0.98. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $83.88.
CVS Health (NYSE:CVS) last announced its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, research analysts anticipate that CVS Health Corp will post 7.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s payout ratio is currently 33.90%.
A number of research firms recently commented on CVS. Loop Capital set a $80.00 price objective on shares of CVS Health and gave the stock a “hold” rating in a report on Friday. Royal Bank of Canada reissued a “buy” rating and set a $90.00 price objective on shares of CVS Health in a report on Wednesday, August 8th. Leerink Swann set a $80.00 price objective on shares of CVS Health and gave the stock an “outperform” rating in a report on Thursday, August 9th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Monday, September 10th. Finally, Wolfe Research initiated coverage on shares of CVS Health in a report on Thursday, October 25th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $89.38.
In other news, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the completion of the transaction, the executive vice president now directly owns 55,162 shares of the company’s stock, valued at approximately $4,256,299.92. The disclosure for this sale can be found here. In the last three months, insiders sold 43,409 shares of company stock valued at $3,392,097. Company insiders own 0.53% of the company’s stock.
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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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