Linscomb & Williams Inc. lifted its stake in CVS Health Corp (NYSE:CVS) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,679 shares of the pharmacy operator’s stock after buying an additional 2,865 shares during the period. Linscomb & Williams Inc.’s holdings in CVS Health were worth $4,147,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of CVS. BlackRock Inc. boosted its stake in shares of CVS Health by 5.9% in the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after buying an additional 4,121,620 shares during the period. Charles Schwab Investment Advisory Inc. bought a new stake in shares of CVS Health in the second quarter valued at approximately $190,701,000. Boston Partners boosted its stake in shares of CVS Health by 41.9% in the second quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock valued at $637,637,000 after buying an additional 2,924,875 shares during the period. Morgan Stanley boosted its stake in shares of CVS Health by 28.4% in the second quarter. Morgan Stanley now owns 8,358,263 shares of the pharmacy operator’s stock valued at $537,854,000 after buying an additional 1,848,678 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of CVS Health by 52.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,171,271 shares of the pharmacy operator’s stock valued at $332,771,000 after buying an additional 1,771,170 shares during the period. Institutional investors and hedge funds own 83.03% of the company’s stock.
Several equities research analysts have weighed in on the company. Argus upped their target price on CVS Health to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 13th. Loop Capital set a $80.00 target price on CVS Health and gave the stock a “hold” rating in a research note on Friday, November 9th. Leerink Swann upped their target price on CVS Health from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Thursday, November 8th. Morgan Stanley set a $100.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, Royal Bank of Canada set a $100.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and an average price target of $90.04.
CVS Health (NYSE:CVS) last released its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 earnings per share. As a group, analysts predict that CVS Health Corp will post 7.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
In other news, EVP Eva C. Boratto sold 13,311 shares of the company’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the completion of the transaction, the executive vice president now directly owns 55,162 shares in the company, valued at $4,256,299.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin Hourican sold 8,564 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total transaction of $642,300.00. Following the transaction, the executive vice president now owns 12,135 shares of the company’s stock, valued at $910,125. The disclosure for this sale can be found here. Insiders have sold 57,638 shares of company stock valued at $4,558,875 over the last quarter. Company insiders own 0.53% of the company’s stock.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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