CVS Health Corporation (CVS) Shares Sold by Keating Investment Counselors Inc.
Keating Investment Counselors Inc. lowered its position in shares of CVS Health Corporation (NYSE:CVS) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,490 shares of the pharmacy operator’s stock after selling 445 shares during the quarter. CVS Health Corporation comprises 2.3% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 21st biggest holding. Keating Investment Counselors Inc.’s holdings in CVS Health Corporation were worth $5,350,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. Lee Danner & Bass Inc. boosted its position in CVS Health Corporation by 4.3% during the first quarter. Lee Danner & Bass Inc. now owns 46,344 shares of the pharmacy operator’s stock valued at $3,638,000 after acquiring an additional 1,903 shares during the last quarter. Teza Capital Management LLC bought a new stake in CVS Health Corporation during the first quarter valued at $803,000. Morris Capital Advisors LLC boosted its position in CVS Health Corporation by 6.1% during the first quarter. Morris Capital Advisors LLC now owns 4,270 shares of the pharmacy operator’s stock valued at $335,000 after acquiring an additional 244 shares during the last quarter. Balasa Dinverno & Foltz LLC boosted its position in CVS Health Corporation by 3.0% during the first quarter. Balasa Dinverno & Foltz LLC now owns 7,514 shares of the pharmacy operator’s stock valued at $590,000 after acquiring an additional 217 shares during the last quarter. Finally, Montecito Bank & Trust boosted its position in CVS Health Corporation by 31.8% during the first quarter. Montecito Bank & Trust now owns 13,523 shares of the pharmacy operator’s stock valued at $1,087,000 after acquiring an additional 3,265 shares during the last quarter. 81.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVS Health Corporation (NYSE:CVS) opened at $70.68 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The company has a market cap of $71,598.27, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. CVS Health Corporation has a one year low of $66.45 and a one year high of $84.72.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. equities research analysts forecast that CVS Health Corporation will post 5.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were paid a $0.50 dividend. The ex-dividend date was Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.83%. CVS Health Corporation’s dividend payout ratio (DPR) is 41.32%.
In other news, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the sale, the insider now owns 299,255 shares in the company, valued at approximately $24,859,112.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the sale, the executive vice president now owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 714,125 shares of company stock valued at $58,119,381. Company insiders own 0.61% of the company’s stock.
A number of analysts have commented on the stock. Royal Bank Of Canada assumed coverage on shares of CVS Health Corporation in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target on the stock. Jefferies Group LLC upped their price target on shares of CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday, September 15th. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. Finally, Wolfe Research cut shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. CVS Health Corporation presently has an average rating of “Buy” and a consensus price target of $85.82.
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CVS Health Corporation 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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