Comerica Bank reduced its stake in CVS Health Co. (NYSE:CVS) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,351 shares of the pharmacy operator’s stock after selling 11,601 shares during the period. Comerica Bank’s holdings in CVS Health were worth $23,450,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cable Hill Partners LLC increased its holdings in CVS Health by 2.8% in the fourth quarter. Cable Hill Partners LLC now owns 4,964 shares of the pharmacy operator’s stock valued at $339,000 after buying an additional 135 shares during the last quarter. San Francisco Sentry Investment Group CA grew its holdings in shares of CVS Health by 2.4% during the first quarter. San Francisco Sentry Investment Group CA now owns 5,695 shares of the pharmacy operator’s stock worth $428,000 after purchasing an additional 135 shares during the last quarter. Gofen & Glossberg LLC IL grew its holdings in shares of CVS Health by 0.5% during the first quarter. Gofen & Glossberg LLC IL now owns 29,941 shares of the pharmacy operator’s stock worth $2,252,000 after purchasing an additional 137 shares during the last quarter. Ausdal Financial Partners Inc. boosted its stake in shares of CVS Health by 2.4% during the fourth quarter. Ausdal Financial Partners Inc. now owns 6,200 shares of the pharmacy operator’s stock worth $423,000 after buying an additional 143 shares during the period. Finally, RiverGlades Family Offices LLC boosted its stake in shares of CVS Health by 2.3% during the fourth quarter. RiverGlades Family Offices LLC now owns 6,650 shares of the pharmacy operator’s stock worth $454,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 74.21% of the company’s stock.
CVS has been the subject of several recent research reports. Truist increased their target price on shares of CVS Health from $80.00 to $88.00 in a research note on Wednesday, April 14th. Truist Securities increased their target price on shares of CVS Health from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 20th. Guggenheim restated a “neutral” rating on shares of CVS Health in a research report on Tuesday, March 23rd. Morgan Stanley raised their price objective on shares of CVS Health from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Tuesday, April 20th. Finally, Jefferies Financial Group upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Friday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $84.31.
Shares of NYSE:CVS opened at $77.69 on Tuesday. The company has a 50 day moving average of $74.98 and a 200-day moving average of $70.72. The firm has a market cap of $101.88 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.72 and a beta of 0.82. CVS Health Co. has a twelve month low of $55.36 and a twelve month high of $78.22. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.
CVS Health (NYSE:CVS) last released its earnings results on Monday, February 15th. The pharmacy operator reported $1.30 EPS for the quarter, beating the consensus estimate of $1.24 by $0.06. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The business had revenue of $69.55 billion during the quarter, compared to analyst estimates of $68.67 billion. During the same period in the prior year, the business earned $1.73 earnings per share. Equities research analysts forecast that CVS Health Co. will post 7.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Investors of record on Friday, April 23rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.57%. The ex-dividend date was Thursday, April 22nd. CVS Health’s dividend payout ratio is presently 28.25%.
In other news, Director Edward J. Ludwig purchased 3,000 shares of CVS Health stock in a transaction that occurred on Wednesday, February 17th. The stock was acquired at an average price of $72.00 per share, for a total transaction of $216,000.00. Also, EVP Thomas M. Moriarty sold 103,423 shares of the company’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $77.00, for a total transaction of $7,963,571.00. Following the completion of the sale, the executive vice president now owns 103,423 shares of the company’s stock, valued at approximately $7,963,571. The disclosure for this sale can be found here. Over the last three months, insiders have sold 583,892 shares of company stock valued at $43,918,083. Company insiders own 0.46% of the company’s stock.
CVS Health Profile
CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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