Public Employees Retirement Association of Colorado Reduces Position in CVS Health Corporation (CVS)
Public Employees Retirement Association of Colorado lessened its holdings in CVS Health Corporation (NYSE:CVS) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,205 shares of the pharmacy operator’s stock after selling 2,036 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in CVS Health Corporation were worth $15,867,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CVS. Mercer Capital Advisers Inc. bought a new position in CVS Health Corporation in the 1st quarter valued at approximately $118,000. Gemmer Asset Management LLC raised its holdings in CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares during the last quarter. TB Alternative Assets Ltd. bought a new position in CVS Health Corporation in the 2nd quarter valued at approximately $121,000. SRS Capital Advisors Inc. raised its holdings 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 valued at $177,000 after buying an additional 734 shares during the last quarter. Finally, Nadler Financial Group Inc. bought a new position in CVS Health Corporation in the 2nd quarter valued at approximately $202,000. Institutional investors and hedge funds own 81.49% of the company’s stock.
Shares of CVS Health Corporation (CVS) opened at 80.70 on Thursday. The company has a 50-day moving average of $79.11 and a 200 day moving average of $78.98. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $90.85. The firm has a market cap of $82.04 billion, a P/E ratio of 16.08 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, equities analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm 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. The ex-dividend date is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.48%. CVS Health Corporation’s dividend payout ratio is presently 39.92%.
In other CVS Health Corporation news, EVP Helena Foulkes sold 39,340 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.88, for a total value of $3,221,159.20. Following the completion of the transaction, the executive vice president now owns 84,337 shares in the company, valued at $6,905,513.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the completion of the transaction, the executive vice president now owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 716,411 shares of company stock valued at $58,277,271. 0.61% of the stock is owned by corporate insiders.
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CVS has been the subject of a number of research reports. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Vetr lowered shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price target for the company. in a report on Monday, June 12th. Jefferies Group LLC restated a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a report on Friday, July 14th. Finally, BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $90.58.
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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