Axa increased its stake in CVS Health Corporation (NYSE:CVS) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 593,618 shares of the pharmacy operator’s stock after buying an additional 58,628 shares during the quarter. Axa owned about 0.06% of CVS Health Corporation worth $47,763,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. TB Alternative Assets Ltd. bought a new stake in shares of CVS Health Corporation during the second quarter worth $121,000. Gemmer Asset Management LLC lifted its position in shares of CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after purchasing an additional 200 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after purchasing an additional 734 shares during the last quarter. Grace & White Inc. NY bought a new stake in shares of CVS Health Corporation during the second quarter worth $199,000. Finally, Nadler Financial Group Inc. bought a new stake in shares of CVS Health Corporation during the second quarter worth $202,000. Institutional investors own 81.42% of the company’s stock.
In other CVS Health Corporation news, CFO David M. Denton sold 237,078 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas M. Moriarty sold 20,547 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total value of $1,667,799.99. Following the completion of the transaction, the executive vice president now directly owns 43,178 shares of the company’s stock, valued at $3,504,758.26. The disclosure for this sale can be found here. Insiders sold 714,125 shares of company stock valued at $58,119,381 over the last three months. 0.61% of the stock is currently owned by corporate insiders.
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Shares of CVS Health Corporation (NYSE:CVS) opened at $71.50 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. CVS Health Corporation has a twelve month low of $66.45 and a twelve month high of $84.72. The company has a market capitalization of $71,294.38, a PE ratio of 12.33, a P/E/G ratio of 1.21 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The firm had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. analysts expect that CVS Health Corporation will post 5.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health Corporation’s payout ratio is presently 41.32%.
CVS has been the subject of several research analyst reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $95.00 target price on shares of CVS Health Corporation in a research report on Monday, October 9th. SunTrust Banks, Inc. set a $85.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a research report on Thursday, October 12th. Mizuho set a $90.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Cowen and Company set a $86.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a research report on Sunday, October 29th. Finally, Needham & Company LLC upgraded CVS Health Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $69.02 to $79.00 in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. CVS Health Corporation presently has a consensus rating of “Buy” and an average target price of $85.82.
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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