Todd Asset Management LLC Sells 11,912 Shares of CVS Health Corporation (CVS)
Todd Asset Management LLC lowered its stake in CVS Health Corporation (NYSE:CVS) by 5.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 222,714 shares of the pharmacy operator’s stock after selling 11,912 shares during the period. Todd Asset Management LLC’s holdings in CVS Health Corporation were worth $17,483,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management boosted its position in shares of CVS Health Corporation by 44.2% in the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock valued at $359,523,000 after buying an additional 1,404,384 shares during the last quarter. Swiss National Bank boosted its position in shares of CVS Health Corporation by 26.9% in the first quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock valued at $300,373,000 after buying an additional 811,100 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of CVS Health Corporation during the first quarter valued at approximately $55,824,000. Thornburg Investment Management Inc. boosted its position in shares of CVS Health Corporation by 31.8% in the first quarter. Thornburg Investment Management Inc. now owns 2,712,089 shares of the pharmacy operator’s stock valued at $212,899,000 after buying an additional 654,058 shares during the last quarter. Finally, Crawford Investment Counsel Inc. boosted its position in shares of CVS Health Corporation by 780.7% in the first quarter. Crawford Investment Counsel Inc. now owns 643,617 shares of the pharmacy operator’s stock valued at $50,524,000 after buying an additional 570,535 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) traded up 0.50% during trading on Friday, hitting $77.73. 1,622,344 shares of the stock traded hands. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $94.30. The stock has a market cap of $79.02 billion, a price-to-earnings ratio of 15.48 and a beta of 0.91. The stock has a 50 day moving average price of $78.10 and a 200-day moving average price of $78.92.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the previous year, the business posted $1.32 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
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Several research analysts recently commented on CVS shares. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 target price for the company in a report on Wednesday, May 24th. Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Leerink Swann set a $90.00 target price on shares of CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Needham & Company LLC started coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They set a “hold” rating for the company. Finally, Cowen and Company restated an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $90.83.
In related news, EVP Helena Foulkes sold 20,333 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the sale, the executive vice president now directly owns 59,301 shares in the company, valued at approximately $4,744,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares in the company, valued at $259,401.96. The disclosure for this sale can be found here. Insiders sold a total of 273,675 shares of company stock worth $21,831,647 over the last 90 days. 0.61% of the stock is currently owned by company 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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