Schwab Charles Investment Management Inc. raised its stake in shares of CVS Health Corp (NYSE:CVS) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,311,444 shares of the pharmacy operator’s stock after acquiring an additional 71,916 shares during the period. Schwab Charles Investment Management Inc.’s holdings in CVS Health were worth $312,580,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of CVS. Beach Investment Management LLC. purchased a new position in shares of CVS Health in the second quarter valued at approximately $2,224,000. Financial Advisors Network Inc. boosted its stake in shares of CVS Health by 7.7% in the second quarter. Financial Advisors Network Inc. now owns 7,946 shares of the pharmacy operator’s stock valued at $639,000 after purchasing an additional 566 shares during the period. Wayne Hummer Investments L.L.C. boosted its stake in shares of CVS Health by 20.0% in the second quarter. Wayne Hummer Investments L.L.C. now owns 26,135 shares of the pharmacy operator’s stock valued at $2,103,000 after purchasing an additional 4,347 shares during the period. Peddock Capital Advisors LLC boosted its stake in shares of CVS Health by 3.6% in the second quarter. Peddock Capital Advisors LLC now owns 15,690 shares of the pharmacy operator’s stock valued at $1,262,000 after purchasing an additional 549 shares during the period. Finally, iAB Financial Bank boosted its stake in shares of CVS Health by 5.2% in the second quarter. iAB Financial Bank now owns 51,527 shares of the pharmacy operator’s stock valued at $4,146,000 after purchasing an additional 2,537 shares during the period. 83.23% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on CVS. Needham & Company LLC set a $98.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Leerink Swann set a $85.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. Loop Capital set a $73.00 price objective on shares of CVS Health and gave the company a “hold” rating in a research note on Monday, December 4th. Finally, Deutsche Bank reissued a “hold” rating on shares of CVS Health in a research note on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. CVS Health currently has an average rating of “Buy” and a consensus price target of $87.82.
In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the firm’s 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 owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.
Shares of CVS Health Corp (NYSE CVS) opened at $68.16 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.59. CVS Health Corp has a 1-year low of $66.45 and a 1-year high of $84.00. The firm has a market cap of $69,150.50, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 1.16 and a beta of 0.93.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The company had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. During the same quarter last year, the company earned $1.71 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. sell-side analysts expect that CVS Health Corp will post 6.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.93%. CVS Health’s payout ratio is currently 30.91%.
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CVS Health Company 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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