Cullen Frost Bankers Inc. increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 30.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,094 shares of the pharmacy operator’s stock after purchasing an additional 30,283 shares during the period. Cullen Frost Bankers Inc.’s holdings in CVS Health were worth $9,739,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its holdings in shares of CVS Health by 141.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 246,719 shares of the pharmacy operator’s stock worth $18,329,000 after buying an additional 144,551 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of CVS Health by 3.6% during the 4th quarter. State of Tennessee Treasury Department now owns 1,000,196 shares of the pharmacy operator’s stock worth $74,305,000 after buying an additional 34,714 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of CVS Health by 5.7% during the 4th quarter. Chase Investment Counsel Corp now owns 4,164 shares of the pharmacy operator’s stock worth $309,000 after buying an additional 225 shares in the last quarter. Point View Wealth Management Inc. boosted its holdings in shares of CVS Health by 3.6% during the 4th quarter. Point View Wealth Management Inc. now owns 46,579 shares of the pharmacy operator’s stock worth $3,460,000 after buying an additional 1,633 shares in the last quarter. Finally, Steel Peak Wealth Management LLC bought a new position in shares of CVS Health during the 4th quarter worth approximately $1,854,000. 76.69% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Larry J. Merlo sold 266,476 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total value of $19,929,740.04. Following the completion of the sale, the chief executive officer now directly owns 703,497 shares of the company’s stock, valued at approximately $52,614,540.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Karen S. Lynch sold 80,143 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $75.00, for a total value of $6,010,725.00. Following the transaction, the executive vice president now owns 41,831 shares in the company, valued at $3,137,325. The disclosure for this sale can be found here. Insiders sold 404,182 shares of company stock worth $30,121,266 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.
CVS opened at $72.00 on Friday. CVS Health Corp has a fifty-two week low of $51.72 and a fifty-two week high of $77.03. The firm has a market capitalization of $95.30 billion, a PE ratio of 21.30, a P/E/G ratio of 1.56 and a beta of 0.93. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.61. The company’s 50-day moving average is $72.71 and its 200 day moving average is $67.58.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $66.89 billion during the quarter, compared to the consensus estimate of $64.01 billion. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 EPS. As a group, analysts expect that CVS Health Corp will post 7.03 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.78%. CVS Health’s dividend payout ratio is presently 28.25%.
CVS has been the topic of a number of research analyst reports. Oppenheimer initiated coverage on CVS Health in a report on Wednesday. They set a “hold” rating on the stock. Mizuho increased their price target on CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird increased their price target on CVS Health from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday. Cantor Fitzgerald increased their price target on CVS Health from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Cfra increased their price target on CVS Health from $85.00 to $86.00 and gave the stock a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $78.48.
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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