First Trust Advisors LP Has $72.15 Million Position in CVS Health Corporation (CVS)
First Trust Advisors LP increased its stake in CVS Health Corporation (NYSE:CVS) by 21.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 896,682 shares of the pharmacy operator’s stock after purchasing an additional 156,929 shares during the quarter. First Trust Advisors LP owned approximately 0.09% of CVS Health Corporation worth $72,147,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Arizona State Retirement System lifted its holdings in CVS Health Corporation by 29.7% in the 2nd quarter. Arizona State Retirement System now owns 340,247 shares of the pharmacy operator’s stock worth $27,376,000 after purchasing an additional 77,813 shares during the last quarter. Foundry Partners LLC lifted its holdings in CVS Health Corporation by 68.8% in the 2nd quarter. Foundry Partners LLC now owns 186,820 shares of the pharmacy operator’s stock worth $15,032,000 after purchasing an additional 76,175 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in CVS Health Corporation by 0.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 184,007 shares of the pharmacy operator’s stock worth $14,805,000 after purchasing an additional 1,260 shares during the last quarter. Partnervest Advisory Services LLC acquired a new stake in CVS Health Corporation in the 2nd quarter worth approximately $209,000. Finally, National Planning Corp lifted its holdings in CVS Health Corporation by 2.9% in the 2nd quarter. National Planning Corp now owns 17,646 shares of the pharmacy operator’s stock worth $1,423,000 after purchasing an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) opened at 72.44 on Tuesday. The stock’s 50 day moving average price is $79.27 and its 200-day moving average price is $78.87. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $88.84. The company has a market capitalization of $73.64 billion, a PE ratio of 14.43 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping 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 firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same quarter last year, the company earned $1.32 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders 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 dividend on an annualized basis and a yield of 2.76%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
Several research firms recently weighed in on CVS. SunTrust Banks, Inc. set a $85.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a report on Thursday, October 12th. Needham & Company LLC restated a “hold” rating on shares of CVS Health Corporation in a report on Thursday, October 12th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $95.00 target price on shares of CVS Health Corporation in a report on Monday, October 9th. Royal Bank Of Canada began coverage on CVS Health Corporation in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Jefferies Group LLC boosted their target price on CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $89.68.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the transaction, the insider now owns 299,255 shares in the company, valued at approximately $24,859,112.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now owns 119,555 shares in the company, valued at approximately $9,939,802.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 716,625 shares of company stock worth $58,318,431. Corporate insiders own 0.61% of the company’s stock.
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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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