Associated Banc Corp lowered its stake in shares of CVS Health Corp (NYSE:CVS) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,922 shares of the pharmacy operator’s stock after selling 11,342 shares during the quarter. Associated Banc Corp’s holdings in CVS Health were worth $8,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. TB Alternative Assets Ltd. purchased a new stake in CVS Health in the second quarter worth about $121,000. Gemmer Asset Management LLC lifted its stake in shares of CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of CVS Health by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 734 shares in the last quarter. Grace & White Inc. NY bought a new position in shares of CVS Health in the second quarter worth approximately $199,000. Finally, Nadler Financial Group Inc. bought a new position in shares of CVS Health in the second quarter worth approximately $202,000. Institutional investors own 81.42% of the company’s stock.
CVS Health Corp (NYSE CVS) opened at $70.55 on Monday. The firm has a market cap of $71,466.59, a P/E ratio of 12.36, a P/E/G ratio of 1.21 and a beta of 0.86. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.72. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.78% and a return on equity of 14.90%. The company had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. equities analysts expect that CVS Health Corp will post 5.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.83%. CVS Health’s dividend payout ratio is currently 41.32%.
CVS has been the topic of several analyst reports. Royal Bank Of Canada initiated coverage on shares of CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. Robert W. Baird reiterated a “hold” rating and issued a $77.00 target price on shares of CVS Health in a research note on Friday, October 27th. Loop Capital initiated coverage on shares of CVS Health in a research note on Thursday, August 24th. They issued a “hold” rating and a $83.00 target price on the stock. Jefferies Group LLC set a $86.00 target price on shares of CVS Health and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Wolfe Research downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and dropped their target price for the stock 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 given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $85.82.
In other CVS Health news, EVP Thomas M. Moriarty sold 90,267 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the sale, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 714,125 shares of company stock valued at $58,119,381. 0.61% of the stock is owned by corporate insiders.
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About CVS Health
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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