Nippon Life Global Investors Americas Inc. bought a new stake in shares of CVS Health Corporation (NYSE:CVS) during the first quarter, Holdings Channel reports. The firm bought 87,280 shares of the pharmacy operator’s stock, valued at approximately $6,852,000.

Other large investors also recently made changes to their positions in the company. Mercer Capital Advisers Inc. bought a new stake in shares of CVS Health Corporation during the first quarter valued at about $118,000. Orrstown Financial Services Inc. raised its stake in shares of CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock valued at $165,000 after buying an additional 2,000 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of CVS Health Corporation by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 734 shares during the last quarter. Edmp Inc. bought a new stake in shares of CVS Health Corporation during the first quarter valued at about $202,000. Finally, Pinnacle Bank bought a new stake in shares of CVS Health Corporation during the first quarter valued at about $203,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Shares of CVS Health Corporation (CVS) traded up 0.57% on Friday, hitting $79.59. 1,034,440 shares of the company traded hands. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.44. The firm’s 50 day moving average price is $78.77 and its 200-day moving average price is $78.97. The stock has a market capitalization of $80.91 billion, a price-to-earnings ratio of 15.85 and a beta of 0.91.

CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. CVS Health Corporation’s payout ratio is 39.92%.

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Several brokerages have issued reports on CVS. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 target price on shares of CVS Health Corporation in a research report on Friday, June 9th. ValuEngine lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $88.97 target price for the company in a research report on Tuesday, June 6th. Finally, Cowen and Company reiterated an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. CVS Health Corporation presently has an average rating of “Buy” and an average target price of $91.27.

In related news, EVP Helena Foulkes sold 20,333 shares of CVS Health Corporation stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the completion of the sale, the executive vice president now owns 59,301 shares of the company’s stock, valued at $4,744,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The disclosure for this sale can be found here. Insiders have sold 271,175 shares of company stock worth $21,632,597 in the last 90 days. Insiders own 0.61% of the company’s stock.

About CVS Health Corporation

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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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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