Whittier Trust Co. lowered its stake in shares of CVS Health Corp (NYSE:CVS) by 14.0% in the 4th quarter, Holdings Channel reports. The firm owned 148,674 shares of the pharmacy operator’s stock after selling 24,188 shares during the quarter. Whittier Trust Co.’s holdings in CVS Health were worth $10,779,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Pathstone Family Office LLC grew its stake in CVS Health by 341.0% in the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after buying an additional 982 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in CVS Health by 330.3% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 991 shares in the last quarter. Fieldpoint Private Securities LLC grew its stake in CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in CVS Health by 119.6% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 726 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new position in CVS Health in the 2nd quarter valued at approximately $119,000. Institutional investors own 83.97% of the company’s stock.
In other news, EVP Helena Foulkes sold 19,965 shares of CVS Health stock in a transaction on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the completion of the sale, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The company had revenue of $48.39 billion during the quarter, compared to the consensus estimate of $47.54 billion. During the same period in the previous year, the firm posted $1.71 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. equities analysts expect that CVS Health Corp will post 6.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, April 20th. CVS Health’s dividend payout ratio is currently 33.90%.
A number of research analysts recently weighed in on CVS shares. Raymond James Financial reiterated a “buy” rating on shares of CVS Health in a research note on Monday, December 4th. Royal Bank of Canada set a $95.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Monday, December 4th. Leerink Swann set a $85.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Monday, December 4th. Needham & Company LLC lifted their price objective on shares of CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 4th. Finally, Deutsche Bank started coverage on shares of CVS Health in a research note on Monday, December 4th. They issued a “buy” rating and a $90.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and a consensus price target of $86.88.
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About CVS Health
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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