CVS Health Corporation (CVS) Shares Bought by South State Corp
South State Corp increased its position in CVS Health Corporation (NYSE:CVS) by 10.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,937 shares of the pharmacy operator’s stock after buying an additional 8,421 shares during the period. South State Corp’s holdings in CVS Health Corporation were worth $7,217,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of CVS. Mercer Capital Advisers Inc. bought a new stake in CVS Health Corporation during the first quarter worth approximately $118,000. Edmp Inc. bought a new stake in CVS Health Corporation during the first quarter worth approximately $202,000. Pinnacle Bank bought a new stake in CVS Health Corporation during the first quarter worth approximately $203,000. Doyle Wealth Management bought a new stake in CVS Health Corporation during the first quarter worth approximately $208,000. Finally, Cue Financial Group Inc. increased 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 worth $213,000 after buying an additional 95 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.42% during mid-day trading on Tuesday, reaching $75.78. 790,381 shares of the company’s stock traded hands. The company’s 50 day moving average is $78.28 and its 200 day moving average is $78.95. The company has a market cap of $77.04 billion, a P/E ratio of 15.10 and a beta of 0.91. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $94.30.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same quarter last year, the firm posted $1.32 earnings per share. CVS Health Corporation’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 annualized dividend and a yield of 2.65%. CVS Health Corporation’s payout ratio is 39.92%.
A number of equities research analysts have commented on the stock. Citigroup Inc. cut their target price on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Loop Capital assumed coverage on shares of CVS Health Corporation in a research report on Thursday, August 24th. They set a “hold” rating and a $83.00 price objective for the company. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a research report on Friday, June 9th. Finally, Wolfe Research downgraded shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $89.00 to $82.00 in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $90.83.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Helena Foulkes sold 20,332 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were 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 of the company’s stock, valued at approximately $4,564,914. The disclosure for this sale can be found here. Insiders sold 273,675 shares of company stock worth $21,831,647 in the last 90 days. 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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