Advisory Services Network LLC grew its holdings in shares of CVS Health (NYSE:CVS) by 59.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,816 shares of the pharmacy operator’s stock after purchasing an additional 9,257 shares during the quarter. Advisory Services Network LLC’s holdings in CVS Health were worth $1,799,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew 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 period. Bank of New York Mellon Corp boosted its stake in CVS Health by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,579,307 shares of the pharmacy operator’s stock worth $860,309,000 after purchasing an additional 481,262 shares during the period. Veritas Asset Management LLP boosted its stake in CVS Health by 2.8% in the 3rd quarter. Veritas Asset Management LLP now owns 8,674,524 shares of the pharmacy operator’s stock worth $705,412,000 after purchasing an additional 235,960 shares during the period. Ameriprise Financial Inc. boosted its stake in CVS Health by 30.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock worth $648,683,000 after purchasing an additional 1,849,593 shares during the period. Finally, Boston Partners boosted its stake in CVS Health by 3.5% in the 4th quarter. Boston Partners now owns 7,774,165 shares of the pharmacy operator’s stock worth $563,627,000 after purchasing an additional 266,372 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on CVS shares. Mizuho set a $95.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, January 24th. SunTrust Banks raised their target price on CVS Health to $90.00 and gave the stock a “buy” rating in a research note on Friday, January 5th. Needham & Company LLC raised their target price on CVS Health from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Tigress Financial restated a “buy” rating on shares of CVS Health in a research note on Tuesday, December 26th. Finally, Royal Bank of Canada set a $89.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $86.81.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. The company had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. CVS Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.71 EPS. equities analysts forecast that CVS Health will post 6.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be issued a dividend of $0.50 per share. 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 3.16%. CVS Health’s dividend payout ratio is 33.90%.
In related news, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the transaction, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.
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CVS Health Profile
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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