Hoylecohen LLC lessened its holdings in shares of CVS Health Corp (NYSE:CVS) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,550 shares of the pharmacy operator’s stock after selling 585 shares during the quarter. Hoylecohen LLC’s holdings in CVS Health were worth $560,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Bell Rock Capital LLC lifted its holdings in shares of CVS Health by 764.0% in the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 382 shares during the period. Daiwa SB Investments Ltd. acquired a new stake in shares of CVS Health during the fourth quarter worth $30,000. Acima Private Wealth LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $33,000. Murphy Pohlad Asset Management LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $39,000. Finally, Cornerstone Advisors Inc. raised its position in shares of CVS Health by 71.6% during the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.
NYSE:CVS opened at $53.90 on Wednesday. The firm has a market cap of $70.40 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 1.06 and a beta of 0.94. CVS Health Corp has a 1-year low of $51.77 and a 1-year high of $82.15. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.07. The firm had revenue of $54.42 billion for the quarter, compared to analyst estimates of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. CVS Health’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 earnings per share. Equities research analysts predict that CVS Health Corp will post 6.8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, April 22nd. CVS Health’s payout ratio is 28.25%.
In other news, Director C David Brown II bought 10,000 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $53.18 per share, for a total transaction of $531,800.00. Following the completion of the purchase, the director now directly owns 16,222 shares of the company’s stock, valued at approximately $862,685.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, COO Jonathan C. Roberts sold 77,639 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $64.54, for a total value of $5,010,821.06. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 23,600 shares of company stock worth $1,270,896 and have sold 245,671 shares worth $15,839,966. 0.53% of the stock is currently owned by insiders.
CVS has been the topic of a number of recent analyst reports. SunTrust Banks cut their target price on CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. UBS Group initiated coverage on CVS Health in a research report on Thursday, January 17th. They set a “buy” rating and a $75.00 target price on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $96.00 target price on shares of CVS Health in a research report on Thursday, January 3rd. Bank of America reaffirmed a “buy” rating and set a $92.00 target price on shares of CVS Health in a research report on Thursday, January 3rd. Finally, Morgan Stanley set a $92.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $79.61.
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About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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