Gabelli Funds LLC trimmed its stake in shares of CVS Health Corp (NYSE:CVS) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,024,800 shares of the pharmacy operator’s stock after selling 137,100 shares during the quarter. Gabelli Funds LLC owned about 0.10% of CVS Health worth $74,298,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. FIL Ltd increased its position in CVS Health by 13.8% in the 2nd quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock valued at $41,424,000 after acquiring an additional 62,318 shares during the period. ETRADE Capital Management LLC increased its position in CVS Health by 3.7% in the 2nd quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock valued at $4,478,000 after acquiring an additional 1,979 shares during the period. Ally Financial Inc. increased its position in CVS Health by 20.0% in the 2nd quarter. Ally Financial Inc. now owns 90,000 shares of the pharmacy operator’s stock valued at $7,241,000 after acquiring an additional 15,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in CVS Health by 17.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 77,859 shares of the pharmacy operator’s stock valued at $5,645,000 after acquiring an additional 11,800 shares during the period. Finally, Prudential Financial Inc. increased its position in CVS Health by 13.1% in the 3rd quarter. Prudential Financial Inc. now owns 3,332,567 shares of the pharmacy operator’s stock valued at $271,004,000 after acquiring an additional 386,036 shares during the period. Institutional investors and hedge funds own 83.96% of the company’s stock.
Several analysts recently commented on the company. Needham & Company LLC upgraded CVS Health from a “buy” rating to a “strong-buy” rating and raised their target price for the company from $88.00 to $100.00 in a research report on Tuesday, January 30th. Mizuho set a $95.00 target price on CVS Health and gave the company a “buy” rating in a research report on Wednesday, January 24th. Cowen restated an “outperform” rating and issued a $99.00 target price (up from $81.00) on shares of CVS Health in a research report on Thursday, January 18th. Vetr cut CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price on the stock. in a research report on Tuesday, January 16th. Finally, ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $87.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating the 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%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.71 EPS. sell-side analysts predict that CVS Health Corp will post 6.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, April 20th. CVS Health’s dividend payout ratio is presently 30.91%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was 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 of the company’s stock, valued at $4,622,714.88. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
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CVS Health 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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