Capital One National Association lowered its position in CVS Health Corporation (NYSE:CVS) by 8.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,315 shares of the pharmacy operator’s stock after selling 7,199 shares during the period. Capital One National Association’s holdings in CVS Health Corporation were worth $5,990,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in CVS Health Corporation during the fourth quarter worth approximately $800,355,000. Vulcan Value Partners LLC purchased a new position in CVS Health Corporation during the fourth quarter worth about $420,930,000. Franklin Resources Inc. increased its position in CVS Health Corporation by 19.9% in the fourth quarter. Franklin Resources Inc. now owns 14,288,826 shares of the pharmacy operator’s stock worth $1,127,532,000 after buying an additional 2,372,019 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in CVS Health Corporation by 840.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,438,013 shares of the pharmacy operator’s stock worth $192,384,000 after buying an additional 2,178,649 shares during the last quarter. Finally, Thornburg Investment Management Inc. purchased a new position in CVS Health Corporation during the fourth quarter worth about $162,399,000. 82.09% of the stock is currently owned by institutional investors.
Shares of CVS Health Corporation (NYSE:CVS) traded up 1.05% during trading on Friday, reaching $79.75. The company’s stock had a trading volume of 3,974,427 shares. The stock has a market cap of $81.25 billion, a P/E ratio of 16.63 and a beta of 0.91. The stock has a 50-day moving average of $78.74 and a 200-day moving average of $79.18. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $98.66.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.07. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The company had revenue of $44.51 billion for the quarter, compared to the consensus estimate of $44.20 billion. During the same quarter last year, the business posted $1.18 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Analysts predict that CVS Health Corporation will post $5.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 3rd. Investors of record on Monday, July 24th will be given a $0.50 dividend. The ex-dividend date is Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.67%.
CVS has been the subject of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a report on Friday, June 9th. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price objective for the company in a report on Wednesday, May 24th. Evercore ISI reiterated an “outperform” rating and set a $88.00 price objective (up from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Cowen and Company restated an “outperform” rating and issued a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Finally, Tigress Financial assumed coverage on CVS Health Corporation in a research note on Thursday, April 27th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $93.67.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the sale, the chief financial officer now owns 176,983 shares in the company, valued at $14,158,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Helena Foulkes sold 20,332 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $76.98, for a total value of $1,565,157.36. Following the sale, the executive vice president now owns 59,300 shares in the company, valued at approximately $4,564,914. The disclosure for this sale can be found here. Insiders sold 271,175 shares of company stock worth $21,632,597 in the last quarter. 0.61% of the stock is currently owned by company insiders.
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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