Tokio Marine Asset Management Co. Ltd. cut its stake in CVS Health Corp (NYSE:CVS) by 22.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,888 shares of the pharmacy operator’s stock after selling 1,743 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CVS Health were worth $427,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fieldpoint Private Securities LLC increased its holdings in CVS Health by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in CVS Health by 330.3% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 991 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in CVS Health by 119.6% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after purchasing an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in CVS Health during the 2nd quarter valued at $119,000. Finally, Cerebellum GP LLC acquired a new stake in CVS Health during the 4th quarter valued at $130,000. 83.96% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $71.04, for a total value of $1,418,313.60. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. The firm had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.71 EPS. equities research analysts predict that CVS Health Corp will post 6.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be given a $0.50 dividend. The ex-dividend date is Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.29%. CVS Health’s dividend payout ratio is currently 30.91%.
A number of equities research analysts recently weighed in on the company. Needham & Company LLC set a $98.00 price target on CVS Health and gave the company a “buy” rating in a report on Friday, February 9th. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Leerink Swann set a $85.00 price target on CVS Health and gave the company a “buy” rating in a report on Friday, February 9th. Loop Capital set a $73.00 price target on CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Finally, Deutsche Bank reaffirmed a “hold” rating on shares of CVS Health in a report on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $87.03.
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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