Wellington Management Group LLP lifted its stake in CVS Health Co. (NYSE:CVS) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,099,754 shares of the pharmacy operator’s stock after buying an additional 19,819 shares during the period. Wellington Management Group LLP owned about 0.61% of CVS Health worth $687,346,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PFG Private Wealth Management LLC lifted its holdings in shares of CVS Health by 2.4% during the 3rd quarter. PFG Private Wealth Management LLC now owns 4,553 shares of the pharmacy operator’s stock worth $386,000 after acquiring an additional 106 shares during the period. Sepio Capital LP lifted its holdings in shares of CVS Health by 0.6% during the 3rd quarter. Sepio Capital LP now owns 18,879 shares of the pharmacy operator’s stock worth $1,602,000 after acquiring an additional 114 shares during the period. Bragg Financial Advisors Inc lifted its holdings in shares of CVS Health by 2.3% during the 3rd quarter. Bragg Financial Advisors Inc now owns 5,193 shares of the pharmacy operator’s stock worth $441,000 after acquiring an additional 115 shares during the period. Sage Mountain Advisors LLC lifted its holdings in shares of CVS Health by 1.8% during the 3rd quarter. Sage Mountain Advisors LLC now owns 6,522 shares of the pharmacy operator’s stock worth $553,000 after acquiring an additional 117 shares during the period. Finally, We Are One Seven LLC lifted its holdings in shares of CVS Health by 0.4% during the 3rd quarter. We Are One Seven LLC now owns 29,752 shares of the pharmacy operator’s stock worth $2,656,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 76.18% of the company’s stock.
In related news, COO Jonathan C. Roberts sold 68,482 shares of the business’s stock in a transaction that occurred on Thursday, January 27th. The shares were sold at an average price of $107.50, for a total transaction of $7,361,815.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James David Clark sold 6,059 shares of CVS Health stock in a transaction that occurred on Friday, January 28th. The shares were sold at an average price of $109.00, for a total transaction of $660,431.00. The disclosure for this sale can be found here. Insiders sold 143,864 shares of company stock worth $15,572,925 over the last ninety days. Insiders own 0.69% of the company’s stock.
NYSE:CVS opened at $102.30 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $134.27 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.55 and a beta of 0.81. The firm has a fifty day simple moving average of $104.00 and a two-hundred day simple moving average of $93.13. CVS Health Co. has a 12 month low of $68.02 and a 12 month high of $111.25.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 9th. The pharmacy operator reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. CVS Health had a net margin of 2.71% and a return on equity of 15.15%. During the same period in the previous year, the business earned $1.30 earnings per share. Equities analysts predict that CVS Health Co. will post 8.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 1st. Shareholders of record on Friday, January 21st were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from CVS Health’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, January 20th. CVS Health’s dividend payout ratio (DPR) is 36.91%.
CVS has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of CVS Health from $108.00 to $120.00 in a report on Thursday, February 10th. The Goldman Sachs Group initiated coverage on shares of CVS Health in a research note on Tuesday, December 14th. They issued a “buy” rating and a $121.00 price objective for the company. Seaport Research Partners initiated coverage on shares of CVS Health in a research note on Wednesday, December 1st. They issued a “buy” rating and a $110.00 price objective for the company. Raymond James downgraded shares of CVS Health from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $115.00 to $120.00 in a research note on Friday, February 11th. Finally, Citigroup increased their price objective on shares of CVS Health from $98.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $112.95.
About CVS Health
CVS Health Corp. engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long-Term Care segment includes the sale of prescription drugs and an assortment of health and wellness products, and general merchandise.
Further Reading
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