Merit Financial Group LLC purchased a new position in shares of CVS Health (NYSE:CVS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,830 shares of the pharmacy operator’s stock, valued at approximately $277,000.
Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of CVS Health by 3.8% during the 4th quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock worth $4,857,249,000 after acquiring an additional 2,430,476 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CVS Health by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 10,868,331 shares of the pharmacy operator’s stock worth $786,322,000 after acquiring an additional 235,357 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CVS Health by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock worth $882,860,000 after acquiring an additional 430,377 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of CVS Health by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock valued at $776,147,000 after purchasing an additional 126,183 shares during the period. Finally, Veritas Asset Management LLP raised its position in shares of CVS Health by 2.8% during the 3rd quarter. Veritas Asset Management LLP now owns 8,674,524 shares of the pharmacy operator’s stock valued at $705,412,000 after purchasing an additional 235,960 shares during the period. Institutional investors and hedge funds own 84.01% of the company’s stock.
In other news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $71.04, for a total value of $1,418,313.60. Following the sale, the executive vice president now directly owns 65,072 shares in the company, valued at approximately $4,622,714.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 EPS. equities analysts forecast that CVS Health will post 6.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.91%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
Several analysts have recently commented on CVS shares. Robert W. Baird decreased their price objective on shares of CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. ValuEngine downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Vetr downgraded shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price objective on the stock. in a research report on Thursday, January 4th. UBS upgraded shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, January 4th. Finally, Needham & Company LLC upgraded shares of CVS Health from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $88.00 to $100.00 in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $86.65.
About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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