IPG Investment Advisors LLC Has $235,000 Stake in CVS Health Corporation (CVS)
IPG Investment Advisors LLC cut its holdings in shares of CVS Health Corporation (NYSE:CVS) by 24.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,918 shares of the pharmacy operator’s stock after selling 940 shares during the period. IPG Investment Advisors LLC’s holdings in CVS Health Corporation were worth $235,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Capital Advisers Inc. acquired a new position in shares of CVS Health Corporation during the first quarter worth approximately $118,000. Gemmer Asset Management LLC raised its holdings in CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after purchasing an additional 200 shares in the last quarter. TB Alternative Assets Ltd. bought a new stake in CVS Health Corporation during the second quarter worth approximately $121,000. SRS Capital Advisors Inc. raised its holdings in CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after purchasing an additional 734 shares in the last quarter. Finally, Nadler Financial Group Inc. bought a new stake in CVS Health Corporation during the second quarter worth approximately $202,000. Institutional investors and hedge funds own 81.49% of the company’s stock.
CVS has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $82.00 target price on shares of CVS Health Corporation in a report on Friday, June 9th. Cowen and Company reissued an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a report on Tuesday, June 13th. Royal Bank Of Canada initiated coverage on CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price on the stock. Leerink Swann set a $90.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Finally, Robert W. Baird reissued an “outperform” rating and set a $90.00 target price on shares of CVS Health Corporation in a report on Monday, August 14th. One research 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. CVS Health Corporation presently has an average rating of “Buy” and a consensus target price of $89.56.
In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the completion of the sale, the executive vice president now owns 70,102 shares in the company, valued at approximately $5,580,820.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The disclosure for this sale can be found here. Insiders have sold a total of 716,625 shares of company stock valued at $58,318,431 in the last ninety days. 0.61% of the stock is currently owned by insiders.
CVS Health Corporation (NYSE:CVS) opened at 76.92 on Friday. The stock’s 50 day moving average is $79.64 and its 200-day moving average is $79.03. The firm has a market cap of $78.19 billion, a price-to-earnings ratio of 15.32 and a beta of 0.92. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $88.92.
CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to the consensus estimate 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 was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. On average, analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s payout ratio is 39.92%.
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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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