Hedeker Wealth LLC increased its stake in CVS Health Corporation (NYSE:CVS) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,359 shares of the pharmacy operator’s stock after purchasing an additional 123 shares during the period. Hedeker Wealth LLC’s holdings in CVS Health Corporation were worth $1,155,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC boosted its stake in CVS Health Corporation by 319.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 869,774 shares of the pharmacy operator’s stock valued at $83,272,000 after buying an additional 662,437 shares in the last quarter. Intercontinental Wealth Advisors LLC acquired a new stake in CVS Health Corporation in the second quarter valued at about $232,000. Northern Capital Management LLC boosted its stake in CVS Health Corporation by 5.2% in the second quarter. Northern Capital Management LLC now owns 45,700 shares of the pharmacy operator’s stock valued at $3,677,000 after buying an additional 2,245 shares in the last quarter. Synovus Financial Corp boosted its stake in CVS Health Corporation by 19.9% in the second quarter. Synovus Financial Corp now owns 89,059 shares of the pharmacy operator’s stock valued at $7,156,000 after buying an additional 14,789 shares in the last quarter. Finally, Seizert Capital Partners LLC boosted its stake in CVS Health Corporation by 3.0% in the second quarter. Seizert Capital Partners LLC now owns 556,649 shares of the pharmacy operator’s stock valued at $44,788,000 after buying an additional 16,177 shares in the last quarter. Institutional investors own 82.04% of the company’s stock.
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Shares of CVS Health Corporation (NYSE:CVS) opened at $70.68 on Friday. The firm has a market capitalization of $71,170.00, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. CVS Health Corporation has a 1-year low of $66.45 and a 1-year high of $84.72.
CVS Health Corporation (NYSE:CVS) last issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.83%. CVS Health Corporation’s payout ratio is currently 41.32%.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares in the company, valued at $24,859,112.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction that occurred on 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 completion of the sale, the executive vice president now 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 quarter, insiders sold 714,125 shares of company stock valued at $58,119,381. 0.61% of the stock is currently owned by corporate insiders.
CVS has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $95.00 price objective on shares of CVS Health Corporation in a research note on Monday, October 9th. Leerink Swann reaffirmed an “outperform” rating and issued a $85.00 price objective (down from $90.00) on shares of CVS Health Corporation in a research note on Tuesday, November 7th. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, SunTrust Banks, Inc. set a $85.00 price target on CVS Health Corporation and gave the company a “buy” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $85.82.
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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