Dillon & Associates Inc. Reduces Stake in CVS Health Corporation (CVS)

Dillon & Associates Inc. lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 47.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,375 shares of the pharmacy operator’s stock after selling 4,895 shares during the period. Dillon & Associates Inc.’s holdings in CVS Health Corporation were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LSV Asset Management raised its holdings in shares of CVS Health Corporation by 6.6% in the 2nd quarter. LSV Asset Management now owns 4,882,891 shares of the pharmacy operator’s stock worth $392,877,000 after acquiring an additional 302,975 shares during the last quarter. Chatham Capital Group Inc. raised its holdings in shares of CVS Health Corporation by 11.5% in the 2nd quarter. Chatham Capital Group Inc. now owns 5,825 shares of the pharmacy operator’s stock worth $469,000 after acquiring an additional 600 shares during the last quarter. Fiduciary Trust Co. raised its holdings in shares of CVS Health Corporation by 1.5% in the 2nd quarter. Fiduciary Trust Co. now owns 371,323 shares of the pharmacy operator’s stock worth $29,877,000 after acquiring an additional 5,316 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of CVS Health Corporation by 10.1% in the 2nd quarter. Manchester Capital Management LLC now owns 4,140 shares of the pharmacy operator’s stock worth $333,000 after acquiring an additional 379 shares during the last quarter. Finally, Veritas Investment Management LLP raised its holdings in shares of CVS Health Corporation by 14.3% in the 2nd quarter. Veritas Investment Management LLP now owns 660,923 shares of the pharmacy operator’s stock worth $53,194,000 after acquiring an additional 82,637 shares during the last quarter. Hedge funds and other institutional investors own 81.42% of the company’s stock.

In related news, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the sale, the executive vice president now owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock worth $58,119,381 in the last ninety days. Insiders own 0.61% of the company’s stock.

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A number of research firms recently weighed in on CVS. Royal Bank Of Canada began coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. Jefferies Group LLC upped their target price on shares of CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, September 15th. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. Finally, Wolfe Research lowered shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $89.00 to $82.00 in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. CVS Health Corporation currently has an average rating of “Buy” and a consensus target price of $85.82.

Shares of CVS Health Corporation (NYSE CVS) opened at $70.68 on Monday. The stock has a market cap of $71,598.27, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. CVS Health Corporation has a twelve month low of $66.45 and a twelve month high of $84.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. equities analysts expect that CVS Health Corporation will post 5.9 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health Corporation’s payout ratio is 41.32%.

CVS Health Corporation Company Profile

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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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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