CVS Health Corporation (CVS) Stake Raised by Thompson Investment Management Inc.

Thompson Investment Management Inc. increased its holdings in CVS Health Corporation (NYSE:CVS) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,876 shares of the pharmacy operator’s stock after purchasing an additional 1,259 shares during the period. CVS Health Corporation accounts for 1.3% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 20th biggest position. Thompson Investment Management Inc.’s holdings in CVS Health Corporation were worth $6,829,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Bank of America Corp DE grew its position in shares of CVS Health Corporation by 1.8% in the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock valued at $1,759,338,000 after purchasing an additional 398,999 shares during the period. Macquarie Group Ltd. grew its position in shares of CVS Health Corporation by 2.4% in the first quarter. Macquarie Group Ltd. now owns 9,752,261 shares of the pharmacy operator’s stock valued at $765,534,000 after purchasing an additional 225,981 shares during the period. Clearbridge Investments LLC grew its position in shares of CVS Health Corporation by 6.8% in the first quarter. Clearbridge Investments LLC now owns 9,258,404 shares of the pharmacy operator’s stock valued at $726,785,000 after purchasing an additional 589,646 shares during the period. Pioneer Investment Management Inc. grew its position in shares of CVS Health Corporation by 4.6% in the first quarter. Pioneer Investment Management Inc. now owns 8,033,087 shares of the pharmacy operator’s stock valued at $630,598,000 after purchasing an additional 353,621 shares during the period. Finally, Boston Partners grew its position in shares of CVS Health Corporation by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after purchasing an additional 2,638,888 shares during the period. 81.64% of the stock is owned by institutional investors and hedge funds.

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CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s payout ratio is 39.92%.

A number of equities research analysts have recently commented on the company. Citigroup Inc. lowered their price objective on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada assumed coverage on CVS Health Corporation in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective for the company. Jefferies Group LLC lifted their price objective on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday, September 15th. Finally, Wolfe Research downgraded CVS Health Corporation from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $89.00 to $82.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. CVS Health Corporation presently has a consensus rating of “Buy” and an average price target of $87.98.

In other news, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the sale, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total value of $7,128,673.02. Following the completion of the sale, the chief operating officer now directly owns 119,555 shares in the company, valued at $9,939,802.70. The disclosure for this sale can be found here. Insiders have sold 716,625 shares of company stock worth $58,318,431 over the last three months. Company insiders own 0.61% of the company’s stock.

CVS Health Corporation Company Profile

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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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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