Matrix Asset Advisors Inc. NY raised its holdings in CVS Health Corporation (NYSE:CVS) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 266,252 shares of the pharmacy operator’s stock after purchasing an additional 14,070 shares during the period. CVS Health Corporation makes up about 3.7% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 6th largest holding. Matrix Asset Advisors Inc. NY’s holdings in CVS Health Corporation were worth $21,423,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TB Alternative Assets Ltd. acquired a new position in shares of CVS Health Corporation in the 2nd quarter valued at approximately $121,000. Gemmer Asset Management LLC raised its position in shares of CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 734 shares in the last quarter. Grace & White Inc. NY acquired a new position in shares of CVS Health Corporation in the 2nd quarter valued at approximately $199,000. Finally, Nadler Financial Group Inc. acquired a new position in shares of CVS Health Corporation in the 2nd quarter valued at approximately $202,000. 82.04% of the stock is owned by hedge funds and other institutional investors.
CVS Health Corporation (NYSE CVS) opened at $70.26 on Friday. 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 has a 12-month low of $66.45 and a 12-month high of $84.72. The stock has a market cap of $70,706.84, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period in the prior year, the firm posted $1.64 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts predict that CVS Health Corporation will post 5.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is currently 41.32%.
In other news, insider Larry J. Merlo sold 241,150 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the completion of the sale, the executive vice president now directly owns 43,178 shares in the company, valued at $3,504,758.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 714,125 shares of company stock worth $58,119,381. Insiders own 0.61% of the company’s stock.
Several equities analysts have recently commented on the stock. Needham & Company LLC upgraded shares of CVS Health Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.02 to $79.00 in a research report on Friday, November 10th. Loop Capital dropped their target price on shares of CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Jefferies Group LLC dropped their target price on shares of CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Leerink Swann restated an “outperform” rating and issued a $85.00 target price (down from $90.00) on shares of CVS Health Corporation in a research report on Tuesday, November 7th. Finally, Citigroup Inc. dropped their target price on shares of CVS Health Corporation from $87.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $85.82.
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About CVS Health Corporation
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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