Markel Corp Raises Position in CVS Health Corporation (CVS)
Markel Corp increased its holdings in CVS Health Corporation (NYSE:CVS) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,000 shares of the pharmacy operator’s stock after acquiring an additional 3,000 shares during the quarter. Markel Corp’s holdings in CVS Health Corporation were worth $21,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of CVS. Mercer Capital Advisers Inc. bought a new stake in CVS Health Corporation during the 1st quarter valued at about $118,000. TB Alternative Assets Ltd. bought a new stake in CVS Health Corporation during the 2nd quarter valued at about $121,000. Gemmer Asset Management LLC increased its stake in 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 valued at $121,000 after purchasing an additional 200 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in 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 valued at $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 2nd quarter valued at about $202,000. Institutional investors own 81.49% of the company’s stock.
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A number of analysts have weighed in on CVS shares. Jefferies Group LLC restated a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a research note on Friday, June 9th. Vetr lowered shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price objective for the company. in a research note on Monday, June 12th. Cowen and Company restated an “outperform” rating and set a $86.00 price objective on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Needham & Company LLC assumed coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $89.56.
CVS Health Corporation (CVS) opened at 76.92 on Friday. The stock has a market cap of $78.19 billion, a P/E 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. The company has a 50 day moving average of $79.64 and a 200-day moving average of $79.03.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping 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 company had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter in the prior year, the company earned $1.32 EPS. CVS Health Corporation’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be issued a $0.50 dividend. The ex-dividend date is Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.60%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
In related 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 transaction, the director now owns 3,258 shares in the company, valued at approximately $259,401.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David M. Denton sold 237,078 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the transaction, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 716,625 shares of company stock worth $58,318,431. 0.61% of the stock is owned by corporate insiders.
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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