CG Asset Management LLC raised its stake in CVS Health Corporation (NYSE:CVS) by 78.0% during the second quarter, Holdings Channel reports. The firm owned 12,040 shares of the pharmacy operator’s stock after buying an additional 5,275 shares during the period. CG Asset Management LLC’s holdings in CVS Health Corporation were worth $1,153,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Bank of Montreal Can bought a new position in shares of CVS Health Corporation during the second quarter worth $438,948,000. Nordea Investment Management AB boosted its position in CVS Health Corporation by 61.3% in the second quarter. Nordea Investment Management AB now owns 11,644,431 shares of the pharmacy operator’s stock valued at $1,114,838,000 after buying an additional 4,423,216 shares during the period. Credit Agricole S A boosted its position in CVS Health Corporation by 112.8% in the first quarter. Credit Agricole S A now owns 2,492,231 shares of the pharmacy operator’s stock valued at $258,521,000 after buying an additional 1,320,987 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in CVS Health Corporation during the first quarter valued at $125,795,000. Finally, State Street Corp boosted its position in CVS Health Corporation by 2.4% in the first quarter. State Street Corp now owns 44,552,112 shares of the pharmacy operator’s stock valued at $4,621,391,000 after buying an additional 1,023,799 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.91% during mid-day trading on Friday, reaching $88.80. The company’s stock had a trading volume of 6,705,822 shares. CVS Health Corporation has a 52-week low of $85.41 and a 52-week high of $106.67. The firm has a market cap of $94.68 billion, a price-to-earnings ratio of 20.43 and a beta of 0.83. The firm has a 50 day moving average price of $90.11 and a 200 day moving average price of $96.45.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.02. The firm earned $43.70 billion during the quarter, compared to the consensus estimate of $44.28 billion. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. On average, equities analysts predict that CVS Health Corporation will post $5.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.70 dividend on an annualized basis and a yield of 1.91%. CVS Health Corporation’s dividend payout ratio is 39.08%.
CVS has been the topic of several research analyst reports. Morgan Stanley reaffirmed a “hold” rating and set a $104.00 target price on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Jefferies Group reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 4th. FBR & Co reaffirmed an “outperform” rating and set a $120.00 target price on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Deutsche Bank AG lifted their target price on CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Finally, Mizuho reaffirmed a “buy” rating and set a $108.00 target price (down previously from $117.00) on shares of CVS Health Corporation in a research note on Thursday, June 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $112.40.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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