Meiji Yasuda Asset Management Co Ltd. Sells 90 Shares of CVS Health Corporation (CVS)
Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,587 shares of the pharmacy operator’s stock after selling 90 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in CVS Health Corporation were worth $3,105,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Gemmer Asset Management LLC increased its position 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 worth $121,000 after purchasing an additional 200 shares in the last quarter. TB Alternative Assets Ltd. acquired a new stake in CVS Health Corporation in the 2nd quarter worth about $121,000. SRS Capital Advisors Inc. boosted its stake in CVS Health Corporation by 48.2% in 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. Grace & White Inc. NY acquired a new stake in CVS Health Corporation in the 2nd quarter worth about $199,000. Finally, Nadler Financial Group Inc. acquired a new stake in CVS Health Corporation in the 2nd quarter worth about $202,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.
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CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.88%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
A number of analysts have issued reports on CVS shares. Needham & Company LLC reissued a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $95.00 price target on shares of CVS Health Corporation in a research note on Monday, October 9th. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. SunTrust Banks, Inc. set a $85.00 price target on CVS Health Corporation and gave the stock a “buy” rating in a research note on Thursday, October 12th. Finally, Jefferies Group LLC set a $86.00 price target on CVS Health Corporation and gave the stock a “hold” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $87.98.
In other news, EVP Thomas M. Moriarty sold 90,267 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 70,102 shares in the company, valued at approximately $5,580,820.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the sale, the chief financial officer now owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 716,625 shares of company stock valued at $58,318,431. 0.61% of the stock is currently owned by corporate insiders.
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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