Acropolis Investment Management LLC trimmed its stake in shares of CVS Health Corp (NYSE:CVS) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,933 shares of the pharmacy operator’s stock after selling 206 shares during the quarter. Acropolis Investment Management LLC’s holdings in CVS Health were worth $358,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC acquired a new position in CVS Health in the 3rd quarter valued at approximately $29,000. Gradient Investments LLC increased its position in CVS Health by 78.3% in the 3rd quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 271 shares during the period. Cordasco Financial Network acquired a new position in CVS Health in the 3rd quarter valued at approximately $44,000. Allred Capital Management LLC acquired a new position in CVS Health in the 4th quarter valued at approximately $55,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of CVS Health in the 2nd quarter valued at $63,000. Institutional investors and hedge funds own 76.64% of the company’s stock.
In related news, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Karen S. Lynch sold 80,143 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the transaction, the executive vice president now directly owns 41,831 shares in the company, valued at $3,137,325. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,310 shares of company stock worth $11,796,598. 0.53% of the stock is owned by insiders.
A number of equities research analysts have recently commented on CVS shares. Citigroup upped their price objective on shares of CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. They noted that the move was a valuation call. Royal Bank of Canada started coverage on shares of CVS Health in a research note on Friday, September 27th. They issued an “outperform” rating and a $85.00 price objective on the stock. UBS Group reaffirmed a “buy” rating and issued a $78.00 price objective on shares of CVS Health in a research note on Thursday, November 7th. Cowen set a $76.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of CVS Health from $88.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $77.43.
Shares of NYSE CVS opened at $73.83 on Wednesday. The firm has a market cap of $93.81 billion, a PE ratio of 10.43, a P/E/G ratio of 1.54 and a beta of 0.89. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $77.03. The company’s fifty day simple moving average is $74.13 and its 200 day simple moving average is $65.22. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. CVS Health’s revenue was up 36.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. On average, equities analysts predict that CVS Health Corp will post 7.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, January 22nd. CVS Health’s dividend payout ratio is presently 28.25%.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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