Old Port Advisors increased its stake in shares of CVS Health Corp (NYSE:CVS) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,826 shares of the pharmacy operator’s stock after buying an additional 224 shares during the period. Old Port Advisors’ holdings in CVS Health were worth $378,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bogart Wealth LLC lifted its position in CVS Health by 5.7% during the 2nd quarter. Bogart Wealth LLC now owns 51,246 shares of the pharmacy operator’s stock worth $3,329,000 after buying an additional 2,742 shares in the last quarter. Global Trust Asset Management LLC lifted its position in CVS Health by 3.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 26,705 shares of the pharmacy operator’s stock worth $1,735,000 after buying an additional 828 shares in the last quarter. First American Trust FSB lifted its position in CVS Health by 3.0% during the 2nd quarter. First American Trust FSB now owns 115,053 shares of the pharmacy operator’s stock worth $7,475,000 after buying an additional 3,319 shares in the last quarter. HBW Advisory Services LLC bought a new stake in CVS Health during the 2nd quarter worth about $333,000. Finally, Campbell Capital Management Inc. raised its holdings in CVS Health by 0.6% during the 2nd quarter. Campbell Capital Management Inc. now owns 101,634 shares of the pharmacy operator’s stock worth $6,603,000 after purchasing an additional 565 shares during the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.
CVS has been the subject of several recent research reports. Tigress Financial reissued a “buy” rating on shares of CVS Health in a report on Friday, April 24th. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their price target on CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Robert W. Baird upped their price target on CVS Health from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $77.00 price target on shares of CVS Health in a research note on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $80.35.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.28. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The business had revenue of $66.76 billion during the quarter, compared to analyst estimates of $64.11 billion. During the same period in the previous year, the firm earned $1.62 EPS. CVS Health’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that CVS Health Corp will post 7.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.17%. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
In other news, EVP Alan Lotvin purchased 5,000 shares of CVS Health stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $63.14 per share, with a total value of $315,700.00. Following the transaction, the executive vice president now directly owns 15,161 shares in the company, valued at approximately $957,265.54. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 6,234 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $65.00, for a total value of $405,210.00. Following the transaction, the senior vice president now directly owns 4,817 shares of the company’s stock, valued at approximately $313,105. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
CVS Health Company 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.
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