HPM Partners LLC decreased its stake in shares of CVS Health Corporation (NYSE:CVS) by 96.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,624 shares of the pharmacy operator’s stock after selling 71,028 shares during the period. HPM Partners LLC’s holdings in CVS Health Corporation were worth $246,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CVS. Gemmer Asset Management LLC increased its position in CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares in the last quarter. TB Alternative Assets Ltd. purchased a new position in CVS Health Corporation during the second quarter worth $121,000. SRS Capital Advisors Inc. increased its position in CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 734 shares in the last quarter. Grace & White Inc. NY purchased a new stake in shares of CVS Health Corporation in the second quarter valued at $199,000. Finally, Nadler Financial Group Inc. purchased a new stake in shares of CVS Health Corporation in the second quarter valued at $202,000. 81.42% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on the company. Needham & Company LLC raised CVS Health Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.02 to $79.00 in a research report on Friday, November 10th. Loop Capital lowered their price objective on CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Jefferies Group LLC lowered their price objective on CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Leerink Swann reaffirmed an “outperform” rating and issued a $85.00 price objective (down previously from $90.00) on shares of CVS Health Corporation in a research report on Tuesday, November 7th. Finally, Citigroup Inc. lowered their price objective on CVS Health Corporation from $87.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $85.82.
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Shares of CVS Health Corporation (NYSE:CVS) opened at $71.50 on Wednesday. CVS Health Corporation has a one year low of $66.45 and a one year high of $84.72. The stock has a market capitalization of $71,294.38, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. equities research analysts expect that CVS Health Corporation will post 5.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.32%.
In related news, EVP Thomas M. Moriarty sold 90,267 shares of the 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 transaction, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.14, for a total value of $7,128,673.02. Following the completion of the transaction, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The disclosure for this sale can be found here. Insiders have sold 714,125 shares of company stock valued at $58,119,381 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.
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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