Moors & Cabot Inc. lowered its stake in shares of CVS Health (NYSE:CVS) by 8.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 54,618 shares of the pharmacy operator’s stock after selling 5,233 shares during the period. Moors & Cabot Inc.’s holdings in CVS Health were worth $3,972,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC raised its position in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 991 shares in the last quarter. Fieldpoint Private Securities LLC raised its position in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 1,000 shares in the last quarter. IFG Advisory LLC acquired a new position in CVS Health in the fourth quarter worth about $1,504,000. Cerebellum GP LLC acquired a new position in CVS Health in the fourth quarter worth about $130,000. Finally, Valeo Financial Advisors LLC acquired a new position in CVS Health in the third quarter worth about $159,000. 84.01% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Helena Foulkes sold 19,965 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. During the same period in the prior year, the firm earned $1.71 earnings per share. CVS Health’s revenue was up 5.3% compared to the same quarter last year. equities analysts anticipate that CVS Health will post 6.32 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.95%. CVS Health’s dividend payout ratio (DPR) is currently 33.90%.
Several research analysts recently issued reports on the stock. Needham & Company LLC set a $98.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research report on Friday, February 9th. ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Leerink Swann set a $85.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research report on Friday, February 9th. Vetr lowered shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price target for the company. in a research report on Tuesday, January 16th. Finally, Citigroup set a $77.00 price target on shares of CVS Health and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus 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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