Brighton Jones LLC Buys New Stake in CVS Health Corporation (CVS)
Brighton Jones LLC bought a new position in CVS Health Corporation (NYSE:CVS) during the first quarter, Holdings Channel reports. The fund bought 9,591 shares of the pharmacy operator’s stock, valued at approximately $753,000.
A number of other hedge funds have also bought and sold shares of CVS. Mercer Capital Advisers Inc. acquired a new stake in CVS Health Corporation during the first quarter worth about $118,000. Orrstown Financial Services Inc. boosted its stake in CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock worth $165,000 after buying an additional 2,000 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in CVS Health Corporation by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 734 shares during the last quarter. Edmp Inc. acquired a new stake in CVS Health Corporation during the first quarter worth about $202,000. Finally, Pinnacle Bank acquired a new stake in CVS Health Corporation during the first quarter worth about $203,000. 82.31% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health Corporation (CVS) traded up 0.54% during midday trading on Monday, reaching $79.84. The company’s stock had a trading volume of 730,783 shares. The stock has a market cap of $81.16 billion, a PE ratio of 15.90 and a beta of 0.91. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.44. The firm has a 50-day moving average of $78.83 and a 200-day moving average of $78.96.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data 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. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were given a $0.50 dividend. The ex-dividend date was Thursday, July 20th. This represents a $2.00 annualized dividend and a yield of 2.52%. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
A number of equities analysts have weighed in on CVS shares. Vetr downgraded CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price target for the company. in a research report on Monday, June 12th. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Needham & Company LLC started coverage on CVS Health Corporation in a research report on Tuesday, June 27th. They set a “hold” rating for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, July 14th. Finally, BidaskClub downgraded CVS Health Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $91.27.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the transaction, the executive vice president now owns 59,300 shares of the company’s stock, valued at $4,564,914. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. In the last three months, insiders sold 271,175 shares of company stock worth $21,632,597. Insiders own 0.61% of the company’s stock.
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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