CVS Health Corporation (CVS) Position Increased by Osborne Partners Capital Management LLC
Osborne Partners Capital Management LLC boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,143 shares of the pharmacy operator’s stock after buying an additional 1,351 shares during the period. CVS Health Corporation makes up approximately 1.4% of Osborne Partners Capital Management LLC’s portfolio, making the stock its 18th largest position. Osborne Partners Capital Management LLC’s holdings in CVS Health Corporation were worth $9,667,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in CVS. Mercer Capital Advisers Inc. purchased a new stake in shares of CVS Health Corporation during the first quarter valued at $118,000. Gemmer Asset Management LLC increased its stake in shares of CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in shares of CVS Health Corporation during the second quarter valued at $121,000. SRS Capital Advisors Inc. increased its stake in shares of 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 buying an additional 734 shares in the last quarter. Finally, Edmp Inc. purchased a new stake in shares of CVS Health Corporation during the first quarter valued at $202,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Corporation (NYSE:CVS) traded up 0.45% during mid-day trading on Monday, hitting $75.69. 1,908,621 shares of the stock were exchanged. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $94.30. The company has a 50 day moving average of $78.28 and a 200 day moving average of $78.95. The firm has a market cap of $76.94 billion, a P/E ratio of 15.08 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company 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 posted $1.32 earnings per share. CVS Health Corporation’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were paid a $0.50 dividend. The ex-dividend date was Thursday, July 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.65%. CVS Health Corporation’s dividend payout ratio is 39.92%.
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Several equities research analysts have recently weighed in on CVS shares. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Leerink Swann set a $90.00 target price on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Vetr downgraded shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 target price on the stock. in a research note on Monday, June 12th. ValuEngine cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.83.
In related news, Director Richard J. Swift sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total value of $199,050.00. Following the sale, the director now owns 3,258 shares of the company’s stock, valued at $259,401.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,565,157.36. Following the completion of the sale, the executive vice president now directly owns 59,300 shares in the company, valued at approximately $4,564,914. The disclosure for this sale can be found here. In the last three months, insiders sold 273,675 shares of company stock worth $21,831,647. 0.61% of the stock is currently owned by insiders.
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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