Addenda Capital Inc. trimmed its holdings in shares of CVS Health Corp (NYSE:CVS) by 6.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 59,562 shares of the pharmacy operator’s stock after selling 4,141 shares during the quarter. Addenda Capital Inc.’s holdings in CVS Health were worth $4,318,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of CVS Health by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after acquiring an additional 1,056,265 shares in the last quarter. FMR LLC lifted its position in shares of CVS Health by 22.0% in the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after acquiring an additional 5,446,930 shares in the last quarter. Northern Trust Corp lifted its position in shares of CVS Health by 5.5% in the 2nd quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after acquiring an additional 807,639 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of CVS Health by 8.4% in the 2nd quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after acquiring an additional 1,100,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of CVS Health by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after acquiring an additional 430,377 shares in the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.
Several equities research analysts recently commented on the stock. Citigroup set a $77.00 price target on shares of CVS Health and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Leerink Swann set a $85.00 price target on shares of CVS Health and gave the company a “buy” rating in a research report on Friday, February 9th. Robert W. Baird reduced their price target on shares of CVS Health from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Royal Bank of Canada set a $89.00 price target on shares of CVS Health and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC set a $98.00 price target on shares of CVS Health and gave the company a “buy” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $87.82.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $48.39 billion for the quarter, compared to the consensus estimate of $47.54 billion. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. CVS Health’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.71 EPS. equities analysts expect that CVS Health Corp will post 6.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.78%. CVS Health’s dividend payout ratio is currently 30.91%.
In other 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 transaction, the executive vice president now owns 15,556 shares in the company, valued at approximately $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.
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CVS Health 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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