Carnegie Capital Asset Management LLC decreased its position in CVS Health Co. (NYSE:CVS – Get Rating) by 88.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,716 shares of the pharmacy operator’s stock after selling 36,167 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in CVS Health were worth $394,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in CVS Health by 2.4% in the first quarter. Vanguard Group Inc. now owns 111,865,662 shares of the pharmacy operator’s stock valued at $11,321,923,000 after purchasing an additional 2,628,740 shares during the period. State Street Corp grew its stake in shares of CVS Health by 4.3% in the first quarter. State Street Corp now owns 59,261,304 shares of the pharmacy operator’s stock worth $5,997,837,000 after acquiring an additional 2,450,990 shares in the last quarter. Capital World Investors grew its stake in shares of CVS Health by 17.0% in the first quarter. Capital World Investors now owns 58,633,421 shares of the pharmacy operator’s stock worth $5,934,465,000 after acquiring an additional 8,531,311 shares in the last quarter. Capital International Investors grew its stake in shares of CVS Health by 1.1% in the first quarter. Capital International Investors now owns 28,139,498 shares of the pharmacy operator’s stock worth $2,848,157,000 after acquiring an additional 318,021 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of CVS Health by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 16,028,628 shares of the pharmacy operator’s stock worth $1,622,257,000 after acquiring an additional 1,385,322 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.
Insider Buying and Selling at CVS Health
In other CVS Health news, EVP Thomas M. Moriarty sold 138,654 shares of the stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total value of $13,172,130.00. Following the completion of the transaction, the executive vice president now directly owns 626,273 shares of the company’s stock, valued at $59,495,935. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Thomas M. Moriarty sold 138,654 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total value of $13,172,130.00. Following the sale, the executive vice president now directly owns 626,273 shares in the company, valued at $59,495,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the completion of the sale, the executive vice president now owns 109,183 shares in the company, valued at $11,355,032. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have commented on CVS. Tigress Financial boosted their price target on shares of CVS Health from $125.00 to $130.00 in a research note on Wednesday, August 17th. Credit Suisse Group boosted their target price on shares of CVS Health from $113.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Evercore ISI boosted their target price on shares of CVS Health from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 7th. UBS Group boosted their target price on shares of CVS Health from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Loop Capital assumed coverage on shares of CVS Health in a research note on Thursday, June 16th. They set a “buy” rating and a $120.00 target price for the company. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.59.
CVS Health Trading Down 1.5 %
NYSE CVS opened at $98.35 on Friday. The stock has a market capitalization of $129.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.52 and a beta of 0.73. CVS Health Co. has a 52-week low of $81.78 and a 52-week high of $111.25. The firm has a 50-day moving average price of $100.20 and a 200 day moving average price of $99.25. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67.
CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.24. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The firm had revenue of $80.64 billion during the quarter, compared to analysts’ expectations of $76.38 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts expect that CVS Health Co. will post 8.53 EPS for the current year.
CVS Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 21st will be issued a $0.55 dividend. The ex-dividend date is Thursday, October 20th. This represents a $2.20 dividend on an annualized basis and a yield of 2.24%. CVS Health’s dividend payout ratio (DPR) is presently 35.77%.
CVS Health Profile
(Get Rating)
CVS Health Corporation provides health services in the United States. The company’s Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
Read More
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS – Get Rating).
Receive News & Ratings for CVS Health Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for CVS Health and related companies with MarketBeat.com’s FREE daily email newsletter.
