CHICAGO TRUST Co NA Increases Stake in CVS Health Corporation (CVS)
CHICAGO TRUST Co NA increased its position in shares of CVS Health Corporation (NYSE:CVS) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,221 shares of the pharmacy operator’s stock after buying an additional 587 shares during the period. CHICAGO TRUST Co NA’s holdings in CVS Health Corporation were worth $2,592,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CVS. Mercer Capital Advisers Inc. purchased a new position in shares of CVS Health Corporation during the first quarter valued at $118,000. SRS Capital Advisors Inc. grew 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 valued at $177,000 after purchasing an additional 734 shares during the last quarter. Cue Financial Group Inc. grew its stake in CVS Health Corporation by 3.6% in the first quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock valued at $213,000 after purchasing an additional 95 shares during the last quarter. Pettee Investors Inc. purchased a new position in CVS Health Corporation in the first quarter valued at about $214,000. Finally, Sfmg LLC grew its stake in CVS Health Corporation by 7.3% in the first quarter. Sfmg LLC now owns 2,940 shares of the pharmacy operator’s stock valued at $231,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.
Several equities analysts have issued reports on the company. Royal Bank Of Canada assumed coverage on CVS Health Corporation in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. Jefferies Group LLC lifted their target price on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, September 15th. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Loop Capital began coverage on CVS Health Corporation in a research note on Thursday, August 24th. They set a “hold” rating and a $83.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $90.58.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS.
The company also recently declared 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 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 is presently 39.92%.
In related news, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was 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 owns 119,555 shares in the company, valued at approximately $9,939,802.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Helena Foulkes sold 39,340 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.88, for a total value of $3,221,159.20. Following the transaction, the executive vice president now owns 84,337 shares in the company, valued at approximately $6,905,513.56. The disclosure for this sale can be found here. Insiders have sold a total of 696,078 shares of company stock worth $56,650,631 in the last 90 days. 0.61% of the stock is currently owned by company 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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