Nicholas Hoffman & Company LLC. boosted its stake in CVS Health Corp (NYSE:CVS) by 45.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,154 shares of the pharmacy operator’s stock after buying an additional 1,923 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in CVS Health were worth $365,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. RFG Advisory LLC boosted its position in shares of CVS Health by 7.5% during the 4th quarter. RFG Advisory LLC now owns 7,200 shares of the pharmacy operator’s stock valued at $535,000 after purchasing an additional 503 shares in the last quarter. Davis R M Inc. bought a new position in shares of CVS Health during the 4th quarter valued at about $222,000. J.W. Cole Advisors Inc. bought a new position in shares of CVS Health during the 4th quarter valued at about $1,292,000. Nwam LLC bought a new position in shares of CVS Health during the 4th quarter valued at about $204,000. Finally, Successful Portfolios LLC boosted its position in shares of CVS Health by 8.4% during the 4th quarter. Successful Portfolios LLC now owns 4,459 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 76.44% of the company’s stock.
In other CVS Health news, EVP Alan Lotvin acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $63.14 per share, with a total value of $315,700.00. Following the completion of the transaction, the executive vice president now owns 15,161 shares in the company, valued at $957,265.54. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James David Clark sold 6,234 shares of CVS Health stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $65.00, for a total transaction of $405,210.00. Following the completion of the transaction, the senior vice president now directly owns 4,817 shares in the company, valued at approximately $313,105. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on CVS. UBS Group reduced their price objective on shares of CVS Health from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Morgan Stanley raised their target price on shares of CVS Health from $71.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Citigroup decreased their target price on shares of CVS Health from $86.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Cfra raised their target price on shares of CVS Health from $85.00 to $86.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald raised their target price on shares of CVS Health from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $80.88.
CVS traded down $0.01 during midday trading on Friday, hitting $63.33. 3,494,416 shares of the company’s stock traded hands, compared to its average volume of 8,148,172. The company has a market cap of $82.79 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.42 and a beta of 0.73. The stock’s fifty day simple moving average is $61.11 and its 200-day simple moving average is $67.62. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.99 and a quick ratio of 0.70. CVS Health Corp has a one year low of $52.04 and a one year high of $77.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.28. The firm had revenue of $66.76 billion for the quarter, compared to analyst estimates of $64.11 billion. CVS Health had a net margin of 2.76% and a return on equity of 15.17%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 earnings per share. On average, research analysts expect that CVS Health Corp will post 7.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Thursday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, April 22nd. CVS Health’s payout ratio is presently 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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