Barnett & Company Inc. Raises Stake in CVS Health Corporation (CVS)
Barnett & Company Inc. lifted its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,102 shares of the pharmacy operator’s stock after purchasing an additional 425 shares during the period. CVS Health Corporation accounts for 2.8% of Barnett & Company Inc.’s investment portfolio, making the stock its 2nd biggest holding. Barnett & Company Inc.’s holdings in CVS Health Corporation were worth $5,962,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of CVS. LSV Asset Management increased its stake 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 worth $359,523,000 after purchasing an additional 1,404,384 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of CVS Health Corporation by 141.2% during 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 increased its stake in shares of CVS Health Corporation by 26.9% during 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 purchased a new stake in shares of CVS Health Corporation during the 1st quarter worth approximately $55,824,000. Finally, Thornburg Investment Management Inc. increased its stake in shares of CVS Health Corporation by 31.8% during 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 own 81.49% of the company’s stock.
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Shares of CVS Health Corporation (NYSE CVS) opened at 80.07 on Thursday. The company has a market capitalization of $81.40 billion, a P/E ratio of 15.95 and a beta of 0.92. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $88.92. The stock’s 50 day moving average is $79.65 and its 200-day moving average is $79.03.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 earnings per share. Analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.50%. CVS Health Corporation’s payout ratio is 39.92%.
Several equities research analysts have recently issued reports on CVS shares. BidaskClub lowered shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Loop Capital initiated coverage on shares of CVS Health Corporation in a research note on Thursday, August 24th. They set a “hold” rating and a $83.00 price target for the company. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Vetr lowered shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price objective for the company. in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $89.56.
In related news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the transaction, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the transaction, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The disclosure for this sale can be found here. Insiders have sold 716,625 shares of company stock valued at $58,318,431 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.
CVS Health Corporation 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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