Dearborn Partners LLC boosted its stake in CVS Health Corporation (NYSE:CVS) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 229,770 shares of the pharmacy operator’s stock after acquiring an additional 5,253 shares during the quarter. Dearborn Partners LLC’s holdings in CVS Health Corporation were worth $18,487,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CVS. Lee Danner & Bass Inc. grew its stake in CVS Health Corporation by 4.3% in the 1st quarter. Lee Danner & Bass Inc. now owns 46,344 shares of the pharmacy operator’s stock valued at $3,638,000 after acquiring an additional 1,903 shares during the period. Teza Capital Management LLC acquired a new stake in CVS Health Corporation during the 1st quarter worth $803,000. Morris Capital Advisors LLC boosted its stake in CVS Health Corporation by 6.1% during the 1st quarter. Morris Capital Advisors LLC now owns 4,270 shares of the pharmacy operator’s stock worth $335,000 after purchasing an additional 244 shares during the last quarter. Balasa Dinverno & Foltz LLC boosted its stake in CVS Health Corporation by 3.0% during the 1st quarter. Balasa Dinverno & Foltz LLC now owns 7,514 shares of the pharmacy operator’s stock worth $590,000 after purchasing an additional 217 shares during the last quarter. Finally, Montecito Bank & Trust boosted its stake in CVS Health Corporation by 31.8% during the 1st quarter. Montecito Bank & Trust now owns 13,523 shares of the pharmacy operator’s stock worth $1,087,000 after purchasing an additional 3,265 shares during the last quarter. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
CVS Health Corporation (NYSE:CVS) opened at $70.68 on Monday. The stock has a market capitalization of $71,598.27, a P/E ratio of 12.38, a P/E/G ratio of 1.21 and a beta of 0.86. CVS Health Corporation has a fifty-two week low of $66.45 and a fifty-two week high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. equities analysts anticipate that CVS Health Corporation will post 5.9 EPS for the current fiscal year.
The business also recently declared 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 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.32%.
In other news, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the transaction, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Denton sold 237,078 shares of CVS Health Corporation stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.65, for a total value of $18,883,262.70. Following the completion of the transaction, the chief financial officer now directly owns 141,096 shares in the company, valued at $11,238,296.40. The disclosure for this sale can be found here. Insiders have sold 714,125 shares of company stock valued at $58,119,381 in the last 90 days. Company insiders own 0.61% of the company’s stock.
Several brokerages have issued reports on CVS. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. lowered their target price on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Needham & Company LLC raised shares of CVS Health Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $69.02 to $79.00 in a research note on Friday, November 10th. Jefferies Group LLC lowered their target price on shares of CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, November 7th. Finally, Loop Capital lowered their target price on shares of CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating on the stock in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $85.82.
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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