ARP Americas LLC bought a new stake in shares of CVS Health Corp (NYSE:CVS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,824 shares of the pharmacy operator’s stock, valued at approximately $311,000.
A number of other large investors have also recently bought and sold shares of CVS. Private Advisor Group LLC increased its stake in CVS Health by 231.6% during the 1st quarter. Private Advisor Group LLC now owns 132,340 shares of the pharmacy operator’s stock valued at $7,388,000 after purchasing an additional 92,431 shares in the last quarter. Roof Eidam & Maycock ADV acquired a new position in CVS Health during the 1st quarter valued at approximately $1,649,000. Pinnacle Associates Ltd. increased its stake in CVS Health by 12.7% during the 1st quarter. Pinnacle Associates Ltd. now owns 227,377 shares of the pharmacy operator’s stock valued at $17,849,000 after purchasing an additional 25,687 shares in the last quarter. Brandes Investment Partners LP acquired a new position in CVS Health during the 1st quarter valued at approximately $7,401,000. Finally, Hayek Kallen Investment Management increased its stake in CVS Health by 6.5% during the 1st quarter. Hayek Kallen Investment Management now owns 14,425 shares of the pharmacy operator’s stock valued at $1,132,000 after purchasing an additional 882 shares in the last quarter. 81.63% of the stock is owned by institutional investors.
A number of research analysts have issued reports on CVS shares. Needham & Company LLC restated a “hold” rating on shares of CVS Health in a research note on Sunday, September 10th. Oppenheimer restated a “buy” rating and set a $95.00 price target on shares of CVS Health in a research note on Monday, October 9th. Leerink Swann restated an “outperform” rating and set a $85.00 price target (down previously from $90.00) on shares of CVS Health in a research note on Tuesday, November 7th. SunTrust Banks set a $85.00 price target on shares of CVS Health and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Citigroup set a $76.00 price target on shares of CVS Health and gave the company a “hold” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $86.51.
CVS Health (NYSE:CVS) last released its quarterly earnings data 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 firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. research analysts forecast that CVS Health Corp will post 5.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.73%. CVS Health’s payout ratio is currently 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by company insiders.
About CVS Health
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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