Arvest Bank Trust Division Increases Stake in CVS Health Corporation (CVS)
Arvest Bank Trust Division grew its position in shares of CVS Health Corporation (NYSE:CVS) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,371 shares of the pharmacy operator’s stock after buying an additional 2,124 shares during the quarter. Arvest Bank Trust Division’s holdings in CVS Health Corporation were worth $15,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in CVS. LSV Asset Management lifted its holdings in shares of CVS Health Corporation by 44.2% during the 1st quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock valued at $359,523,000 after buying an additional 1,404,384 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in CVS Health Corporation by 141.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock worth $114,832,000 after purchasing an additional 835,476 shares during the last quarter. Swiss National Bank lifted its holdings in CVS Health Corporation by 26.9% in the 1st quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock worth $300,373,000 after purchasing an additional 811,100 shares during the last quarter. Karp Capital Management Corp acquired a new stake in CVS Health Corporation in the 1st quarter worth approximately $55,824,000. Finally, Thornburg Investment Management Inc. lifted its holdings in CVS Health Corporation by 31.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 2,712,089 shares of the pharmacy operator’s stock worth $212,899,000 after purchasing an additional 654,058 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.
CVS Health Corporation (CVS) traded up 0.09% during mid-day trading on Friday, hitting $79.63. The stock had a trading volume of 6,534,109 shares. The stock’s 50 day moving average price is $79.11 and its 200 day moving average price is $78.98. CVS Health Corporation has a one year low of $69.30 and a one year high of $90.85. The firm has a market capitalization of $80.95 billion, a price-to-earnings ratio of 15.86 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.32 EPS. Analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.51%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
Several equities research analysts recently weighed in on CVS shares. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Loop Capital started coverage on CVS Health Corporation in a report on Thursday, August 24th. They issued a “hold” rating and a $83.00 target price for the company. Leerink Swann set a $90.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Vetr lowered CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 target price for the company. in a report on Monday, June 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. CVS Health Corporation presently has a consensus rating of “Buy” and a consensus price target of $90.58.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the transaction, the insider now owns 299,255 shares in the company, valued at approximately $24,859,112.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now owns 119,555 shares in the company, valued at approximately $9,939,802.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 716,411 shares of company stock worth $58,277,271. Corporate insiders own 0.61% of the company’s stock.
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About CVS Health Corporation
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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