Smith Moore & CO. lifted its stake in shares of CVS Health Corp (NYSE:CVS) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,780 shares of the pharmacy operator’s stock after purchasing an additional 647 shares during the period. Smith Moore & CO.’s holdings in CVS Health were worth $641,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CVS. BlackRock Inc. boosted its stake in CVS Health by 22.0% in the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after purchasing an additional 16,757,941 shares during the period. Vanguard Group Inc. boosted its stake in CVS Health by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after purchasing an additional 1,445,887 shares during the period. Vanguard Group Inc boosted its stake in CVS Health by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after purchasing an additional 1,445,887 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in CVS Health by 6,858.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after purchasing an additional 24,728,818 shares during the period. Finally, Northern Trust Corp boosted its stake in CVS Health by 24.6% in the 4th quarter. Northern Trust Corp now owns 17,939,831 shares of the pharmacy operator’s stock worth $1,175,418,000 after purchasing an additional 3,543,504 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.
In related news, Director C David Brown II acquired 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $53.18 per share, for a total transaction of $531,800.00. Following the acquisition, the director now owns 16,222 shares in the company, valued at approximately $862,685.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David W. Dorman acquired 9,600 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were bought at an average price of $52.71 per share, for a total transaction of $506,016.00. Following the acquisition, the director now owns 122,302 shares in the company, valued at approximately $6,446,538.42. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. Company insiders own 0.53% of the company’s stock.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 EPS for the quarter, topping the consensus estimate of $2.07 by $0.07. The firm had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS. On average, research analysts expect that CVS Health Corp will post 6.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be issued a $0.50 dividend. The ex-dividend date is Monday, April 22nd. This represents a $2.00 annualized dividend and a yield of 3.80%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of CVS Health in a report on Tuesday, March 12th. They set an “outperform” rating and a $76.00 price target on the stock. Morgan Stanley set a $92.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Friday, February 22nd. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Thursday, February 28th. JPMorgan Chase & Co. restated an “overweight” rating and set a $91.00 price target on shares of CVS Health in a report on Thursday, February 21st. Finally, Citigroup cut their price target on shares of CVS Health from $94.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.15.
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CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
Further Reading: Yield Curve
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