Weatherly Asset Management L. P. Sells 1,499 Shares of CVS Health Corporation (CVS)
Weatherly Asset Management L. P. trimmed its holdings in CVS Health Corporation (NYSE:CVS) by 4.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 31,574 shares of the pharmacy operator’s stock after selling 1,499 shares during the quarter. Weatherly Asset Management L. P.’s holdings in CVS Health Corporation were worth $2,540,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Garland Capital Management Inc. purchased a new position in shares of CVS Health Corporation in the second quarter worth about $4,308,000. Telos Capital Management Inc. lifted its stake in shares of CVS Health Corporation by 5.2% in the 2nd quarter. Telos Capital Management Inc. now owns 29,621 shares of the pharmacy operator’s stock valued at $2,383,000 after acquiring an additional 1,451 shares during the last quarter. Lee Danner & Bass Inc. lifted its stake in shares of CVS Health Corporation by 2.2% in the 2nd quarter. Lee Danner & Bass Inc. now owns 47,734 shares of the pharmacy operator’s stock valued at $3,841,000 after acquiring an additional 1,040 shares during the last quarter. CAPROCK Group Inc. lifted its stake in shares of CVS Health Corporation by 1.7% in the 2nd quarter. CAPROCK Group Inc. now owns 14,312 shares of the pharmacy operator’s stock valued at $1,152,000 after acquiring an additional 234 shares during the last quarter. Finally, Nwam LLC bought a new stake in shares of CVS Health Corporation in the 2nd quarter valued at about $329,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. Insiders sold 716,625 shares of company stock valued at $58,318,431 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.
Several brokerages recently weighed in on CVS. Needham & Company LLC restated a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. BidaskClub cut CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $88.97 price objective for the company in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. CVS Health Corporation presently has a consensus rating of “Buy” and an average target price of $90.58.
CVS Health Corporation (NYSE CVS) opened at 80.91 on Wednesday. The firm’s 50-day moving average price is $79.62 and its 200 day moving average price is $79.03. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $88.92. The stock has a market cap of $82.25 billion, a price-to-earnings ratio of 16.12 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last issued its 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 return on equity of 17.47% and a net margin of 2.93%. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the prior year, the business earned $1.32 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current year.
The company 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 2.47%. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
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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