Crestwood Advisors Group LLC Has $19.39 Million Position in CVS Health Corp (CVS)
Crestwood Advisors Group LLC increased its stake in CVS Health Corp (NYSE:CVS) by 0.7% during the third quarter, HoldingsChannel reports. The firm owned 238,442 shares of the pharmacy operator’s stock after acquiring an additional 1,760 shares during the period. CVS Health accounts for approximately 1.7% of Crestwood Advisors Group LLC’s holdings, making the stock its 22nd biggest position. Crestwood Advisors Group LLC’s holdings in CVS Health were worth $19,390,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in CVS Health by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after acquiring an additional 1,056,265 shares in the last quarter. FMR LLC grew its stake in CVS Health by 22.0% during the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after acquiring an additional 5,446,930 shares in the last quarter. Northern Trust Corp grew its stake in CVS Health by 5.5% during the 2nd quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after acquiring an additional 807,639 shares in the last quarter. Nordea Investment Management AB grew its stake in CVS Health by 8.4% during the 2nd quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after acquiring an additional 1,100,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in CVS Health by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after acquiring an additional 430,377 shares in the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The business had revenue of $48.39 billion during the quarter, compared to analyst estimates of $47.54 billion. During the same period in the previous year, the company earned $1.71 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. sell-side analysts anticipate that CVS Health Corp will post 6.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were issued a $0.50 dividend. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.85%. CVS Health’s dividend payout ratio (DPR) is currently 30.91%.
Several research firms have weighed in on CVS. Citigroup set a $77.00 target price on CVS Health and gave the company a “neutral” rating in a research note on Tuesday. Leerink Swann set a $85.00 target price on CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. Robert W. Baird lowered their target price on CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Royal Bank of Canada set a $89.00 target price on CVS Health and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC set a $98.00 target price on CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and an average price target of $87.82.
TRADEMARK VIOLATION WARNING: “Crestwood Advisors Group LLC Has $19.39 Million Position in CVS Health Corp (CVS)” was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://theolympiareport.com/2018/02/14/crestwood-advisors-group-llc-has-19-39-million-position-in-cvs-health-corp-cvs.html.
CVS Health 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.
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.