Seaward Management Limited Partnership lessened its position in shares of CVS Health Corporation (NYSE:CVS) by 61.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,028 shares of the pharmacy operator’s stock after selling 209,830 shares during the period. Seaward Management Limited Partnership’s holdings in CVS Health Corporation were worth $10,462,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in CVS. Mercer Capital Advisers Inc. bought a new stake in shares of CVS Health Corporation in the 1st quarter worth approximately $118,000. Gemmer Asset Management LLC lifted its holdings in shares of CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after purchasing an additional 200 shares during the last quarter. TB Alternative Assets Ltd. bought a new stake in shares of CVS Health Corporation in the 2nd quarter worth approximately $121,000. SRS Capital Advisors Inc. lifted its holdings in shares of CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after purchasing an additional 734 shares during the last quarter. Finally, Grace & White Inc. NY bought a new stake in shares of CVS Health Corporation in the 2nd quarter worth approximately $199,000. 81.51% of the stock is currently owned by institutional investors.
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In related news, insider Larry J. Merlo sold 241,150 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the transaction, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the transaction, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 716,625 shares of company stock valued at $58,318,431. Company insiders own 0.61% of the company’s stock.
Several analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on CVS Health Corporation in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price target on the stock. Jefferies Group LLC raised their price target on CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, September 15th. Needham & Company LLC assumed coverage on CVS Health Corporation in a report on Tuesday, June 27th. They issued a “hold” rating on the stock. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. CVS Health Corporation has a consensus rating of “Buy” and an average price target of $90.23.
Shares of CVS Health Corporation (NYSE:CVS) opened at 73.78 on Friday. The stock has a 50 day moving average price of $79.24 and a 200 day moving average price of $78.91. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $88.92. The firm has a market cap of $75.00 billion, a PE ratio of 14.70 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. On average, equities research analysts expect that CVS Health Corporation will post $5.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s payout ratio 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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