CIBC Private Wealth Group LLC lowered its stake in CVS Health Co. (NYSE:CVS – Get Rating) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 230,358 shares of the pharmacy operator’s stock after selling 3,264 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in CVS Health were worth $21,969,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of CVS Health by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 115,934,841 shares of the pharmacy operator’s stock valued at $11,056,706,000 after purchasing an additional 1,726,512 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CVS Health by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,699,284 shares of the pharmacy operator’s stock worth $1,184,085,000 after buying an additional 134,457 shares during the period. Legal & General Group Plc raised its stake in CVS Health by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 10,321,160 shares of the pharmacy operator’s stock worth $956,359,000 after buying an additional 220,516 shares during the period. Nordea Investment Management AB raised its stake in CVS Health by 38.6% during the 2nd quarter. Nordea Investment Management AB now owns 9,680,490 shares of the pharmacy operator’s stock worth $899,511,000 after buying an additional 2,697,382 shares during the period. Finally, Boston Partners raised its stake in CVS Health by 15.5% during the 3rd quarter. Boston Partners now owns 8,034,788 shares of the pharmacy operator’s stock worth $766,750,000 after buying an additional 1,077,638 shares during the period. Institutional investors and hedge funds own 77.29% of the company’s stock.
Insider Buying and Selling
In related news, EVP Thomas M. Moriarty sold 137,466 shares of CVS Health stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $98.36, for a total transaction of $13,521,155.76. Following the completion of the transaction, the executive vice president now owns 608,129 shares in the company, valued at $59,815,568.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
CVS Health Price Performance
Shares of NYSE CVS opened at $75.56 on Wednesday. The stock has a market capitalization of $97.03 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.19 and a beta of 0.65. The business has a 50-day moving average of $86.37 and a 200-day moving average of $93.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.94 and a quick ratio of 0.67. CVS Health Co. has a fifty-two week low of $74.79 and a fifty-two week high of $109.69.
CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.07. CVS Health had a return on equity of 15.75% and a net margin of 1.29%. The business had revenue of $83.85 billion during the quarter, compared to analysts’ expectations of $76.37 billion. During the same quarter last year, the company posted $1.98 earnings per share. CVS Health’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health Co. will post 8.84 earnings per share for the current fiscal year.
CVS Health Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Investors of record on Friday, January 20th were issued a dividend of $0.605 per share. The ex-dividend date was Thursday, January 19th. This represents a $2.42 dividend on an annualized basis and a yield of 3.20%. This is a boost from CVS Health’s previous quarterly dividend of $0.55. CVS Health’s dividend payout ratio (DPR) is presently 77.56%.
CVS Health Company Profile
CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.
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