CVS Health Corporation (CVS) Shares Sold by OLD National Bancorp IN
OLD National Bancorp IN trimmed its stake in shares of CVS Health Corporation (NYSE:CVS) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,138 shares of the pharmacy operator’s stock after selling 2,883 shares during the quarter. OLD National Bancorp IN’s holdings in CVS Health Corporation were worth $10,632,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CVS. Mercer Capital Advisers Inc. bought a new position in shares of CVS Health Corporation in the first quarter valued at about $118,000. Gemmer Asset Management LLC lifted its stake in shares of CVS Health Corporation by 15.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of CVS Health Corporation by 48.2% during the 1st 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. Nadler Financial Group Inc. acquired a new stake in shares of CVS Health Corporation during the 2nd quarter worth about $202,000. Finally, Cue Financial Group Inc. lifted its stake in shares of CVS Health Corporation by 3.6% during the 1st 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 last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.
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Several research analysts have weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a report on Friday, June 9th. Cowen and Company restated an “outperform” rating and set a $86.00 price objective on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Royal Bank Of Canada started coverage on CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price objective for the company. Leerink Swann set a $90.00 price objective on CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $90.00 target price on shares of CVS Health Corporation in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.58.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.5223% during midday trading on Monday, hitting $80.8953. The company’s stock had a trading volume of 2,170,888 shares. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $89.91. The stock’s 50 day moving average is $79.11 and its 200-day moving average is $78.98. The firm has a market cap of $82.24 billion, a P/E ratio of 16.1146 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. CVS Health Corporation’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. Equities analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is presently 39.92%.
In other 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 transaction of $199,050.00. Following the completion of the transaction, the director now directly owns 3,258 shares in the company, valued at approximately $259,401.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Helena Foulkes sold 39,340 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.88, for a total transaction of $3,221,159.20. Following the transaction, the executive vice president now owns 84,337 shares of the company’s stock, valued at $6,905,513.56. The disclosure for this sale can be found here. Insiders sold a total of 696,078 shares of company stock worth $56,650,631 over the last quarter. Corporate insiders own 0.61% of the company’s stock.
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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