Citizens Financial Group Inc RI lowered its stake in CVS Health (NYSE:CVS) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,886 shares of the pharmacy operator’s stock after selling 803 shares during the quarter. Citizens Financial Group Inc RI’s holdings in CVS Health were worth $2,529,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of CVS. Ontario Teachers Pension Plan Board boosted its stake in shares of CVS Health by 1.4% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 937,658 shares of the pharmacy operator’s stock worth $75,444,000 after acquiring an additional 13,224 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of CVS Health by 17,000.0% during the 2nd quarter. Sun Life Financial INC now owns 7,353 shares of the pharmacy operator’s stock worth $592,000 after acquiring an additional 7,310 shares during the last quarter. Meridian Investment Counsel Inc. lifted its stake in shares of CVS Health by 12.5% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 12,155 shares of the pharmacy operator’s stock valued at $978,000 after buying an additional 1,350 shares in the last quarter. QCM Cayman Ltd. lifted its stake in shares of CVS Health by 147.6% during the 2nd quarter. QCM Cayman Ltd. now owns 11,172 shares of the pharmacy operator’s stock valued at $899,000 after buying an additional 6,659 shares in the last quarter. Finally, Optimum Investment Advisors lifted its stake in shares of CVS Health by 20.0% during the 2nd quarter. Optimum Investment Advisors now owns 3,444 shares of the pharmacy operator’s stock valued at $277,000 after buying an additional 573 shares in the last quarter. Institutional investors own 83.97% of the company’s stock.
In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of CVS Health stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 6.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd will be issued a $0.50 dividend. The ex-dividend date is Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a yield of 3.15%. CVS Health’s dividend payout ratio is currently 33.90%.
A number of research analysts recently weighed in on the stock. Needham & Company LLC set a $98.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. ValuEngine cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Leerink Swann set a $85.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. Vetr cut shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price on the stock. in a research note on Tuesday, January 16th. Finally, Citigroup set a $77.00 target price on shares of CVS Health and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $86.65.
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CVS Health Company 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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