Insight 2811 Inc. increased its holdings in CVS Health Corporation (NYSE:CVS) by 10.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,421 shares of the pharmacy operator’s stock after acquiring an additional 1,200 shares during the quarter. CVS Health Corporation comprises about 0.8% of Insight 2811 Inc.’s investment portfolio, making the stock its 19th biggest holding. Insight 2811 Inc.’s holdings in CVS Health Corporation were worth $999,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CVS. LSV Asset Management increased its stake in CVS Health Corporation by 44.2% during the 1st quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock valued at $359,523,000 after purchasing an additional 1,404,384 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in CVS Health Corporation by 141.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock valued at $114,832,000 after purchasing an additional 835,476 shares in the last quarter. Swiss National Bank increased its stake in CVS Health Corporation by 26.9% during the 1st quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock valued at $300,373,000 after purchasing an additional 811,100 shares in the last quarter. Karp Capital Management Corp bought a new stake in CVS Health Corporation during the 1st quarter valued at about $55,824,000. Finally, Thornburg Investment Management Inc. increased its stake in CVS Health Corporation by 31.8% during the 1st quarter. Thornburg Investment Management Inc. now owns 2,712,089 shares of the pharmacy operator’s stock valued at $212,899,000 after purchasing an additional 654,058 shares in the last quarter. Institutional investors own 81.51% of the company’s stock.
In related news, CFO David M. Denton sold 237,078 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.65, for a total value of $18,883,262.70. Following the transaction, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard J. Swift sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the transaction, the director now owns 3,258 shares in the company, valued at approximately $259,401.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 716,625 shares of company stock worth $58,318,431. 0.61% of the stock is owned by corporate insiders.
A number of analysts have weighed in on CVS shares. Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $95.00 price objective on shares of CVS Health Corporation in a research note on Monday. SunTrust Banks, Inc. restated a “buy” rating and set a $96.00 price objective on shares of CVS Health Corporation in a research note on Thursday. Finally, Jefferies Group LLC raised their price objective on shares of CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, September 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $90.23.
CVS Health Corporation (NYSE CVS) opened at 73.78 on Friday. The stock has a market cap of $75.00 billion, a P/E ratio of 14.70 and a beta of 0.92. The company has a 50 day moving average of $79.24 and a 200-day moving average of $78.91. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $88.92.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter in the prior year, the company earned $1.32 EPS. CVS Health Corporation’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.71%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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