Evermay Wealth Management LLC lifted its holdings in CVS Health Co. (NYSE:CVS – Get Rating) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,639 shares of the pharmacy operator’s stock after purchasing an additional 414 shares during the quarter. Evermay Wealth Management LLC’s holdings in CVS Health were worth $246,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings 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 worth $11,056,706,000 after buying an additional 1,726,512 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CVS Health by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,699,284 shares of the pharmacy operator’s stock valued at $1,184,085,000 after purchasing an additional 134,457 shares during the period. Legal & General Group Plc lifted its stake in shares of CVS Health by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 10,321,160 shares of the pharmacy operator’s stock valued at $956,359,000 after purchasing an additional 220,516 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of CVS Health by 38.6% in the 2nd quarter. Nordea Investment Management AB now owns 9,680,490 shares of the pharmacy operator’s stock worth $899,511,000 after purchasing an additional 2,697,382 shares during the period. Finally, Boston Partners raised its holdings in CVS Health by 15.5% during the 3rd quarter. Boston Partners now owns 8,034,788 shares of the pharmacy operator’s stock valued at $766,750,000 after buying an additional 1,077,638 shares during the period. Hedge funds and other institutional investors own 77.29% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on CVS. Morgan Stanley boosted their price objective on shares of CVS Health from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, January 13th. Wells Fargo & Company decreased their price objective on shares of CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of CVS Health in a research note on Thursday, February 9th. Raymond James decreased their price target on CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, February 9th. Finally, Jefferies Financial Group upped their price objective on CVS Health from $130.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.65.
CVS Health Trading Up 1.2 %
CVS Health (NYSE:CVS – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The pharmacy operator reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.07. The company had revenue of $83.85 billion during the quarter, compared to the consensus estimate of $76.37 billion. CVS Health had a net margin of 1.29% and a return on equity of 15.75%. CVS Health’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Equities analysts anticipate that CVS Health Co. will post 8.84 EPS for the current fiscal year.
CVS Health Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 21st will be given a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, April 20th. CVS Health’s payout ratio is currently 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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