CVS Health Corporation (CVS) Stake Boosted by Ridgewood Investments LLC
Ridgewood Investments LLC grew its stake in shares of CVS Health Corporation (NYSE:CVS) by 14.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,159 shares of the pharmacy operator’s stock after acquiring an additional 638 shares during the quarter. Ridgewood Investments LLC’s holdings in CVS Health Corporation were worth $415,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. CGOV Asset Management boosted its position in CVS Health Corporation by 0.3% in the first quarter. CGOV Asset Management now owns 1,148,337 shares of the pharmacy operator’s stock valued at $120,090,000 after buying an additional 3,466 shares during the last quarter. Waldron LP boosted its position in CVS Health Corporation by 217.4% in the first quarter. Waldron LP now owns 10,633 shares of the pharmacy operator’s stock valued at $835,000 after buying an additional 7,283 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in CVS Health Corporation in the first quarter valued at approximately $455,000. Ariel Capital Advisors LLC boosted its position in CVS Health Corporation by 17.7% in the first quarter. Ariel Capital Advisors LLC now owns 30,483 shares of the pharmacy operator’s stock valued at $2,393,000 after buying an additional 4,590 shares during the last quarter. Finally, Canal Capital Management LLC purchased a new stake in CVS Health Corporation in the first quarter valued at approximately $990,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.
In other news, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the sale, the chief financial officer now directly owns 141,096 shares in the company, valued at $11,238,296.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction on 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 716,625 shares of company stock worth $58,318,431 over the last 90 days. Company insiders own 0.61% of the company’s stock.
A number of equities research analysts recently commented on the company. Jefferies Group LLC set a $86.00 target price on CVS Health Corporation and gave the company a “hold” rating in a research report on Wednesday. SunTrust Banks, Inc. set a $85.00 target price on CVS Health Corporation and gave the company a “buy” rating in a research report on Thursday, October 12th. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health Corporation in a research report on Thursday, October 12th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $95.00 target price on shares of CVS Health Corporation in a research report on Monday, October 9th. Finally, Royal Bank Of Canada assumed coverage on CVS Health Corporation in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. CVS Health Corporation presently has an average rating of “Buy” and an average price target of $89.68.
CVS Health Corporation (NYSE CVS) opened at 76.49 on Friday. The firm has a market capitalization of $77.76 billion, a P/E ratio of 15.24 and a beta of 0.92. The company has a 50-day moving average price of $78.86 and a 200 day moving average price of $78.71. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $88.84.
CVS Health Corporation (NYSE:CVS) last posted its earnings results 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. The company had revenue of $45.69 billion for 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%. CVS Health Corporation’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share. Analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.61%. 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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