Douglas Lane & Associates LLC raised its position in CVS Health Co. (NYSE:CVS) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 544,824 shares of the pharmacy operator’s stock after buying an additional 31,668 shares during the period. Douglas Lane & Associates LLC’s holdings in CVS Health were worth $37,212,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC boosted its holdings in CVS Health by 173.7% in the third quarter. CVA Family Office LLC now owns 457 shares of the pharmacy operator’s stock valued at $27,000 after acquiring an additional 290 shares during the last quarter. Ellis Investment Partners LLC boosted its position in shares of CVS Health by 47.0% during the 3rd quarter. Ellis Investment Partners LLC now owns 541 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 173 shares in the last quarter. Liberty Wealth Management LLC increased its position in CVS Health by 108.9% in the 3rd quarter. Liberty Wealth Management LLC now owns 631 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 329 shares in the last quarter. Dimension Capital Management LLC bought a new position in shares of CVS Health in the third quarter valued at $47,000. Finally, Advisory Alpha LLC bought a new position in shares of CVS Health in the third quarter valued at approximately $48,000. 74.21% of the stock is currently owned by institutional investors and hedge funds.
In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of the firm’s stock in a transaction on Friday, November 13th. The shares were sold at an average price of $70.00, for a total transaction of $499,660.00. Following the transaction, the executive vice president now directly owns 8,023 shares of the company’s stock, valued at approximately $561,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Bisaccia sold 25,177 shares of the company’s stock in a transaction that occurred on Tuesday, January 12th. The shares were sold at an average price of $77.00, for a total value of $1,938,629.00. Following the sale, the executive vice president now directly owns 71,765 shares of the company’s stock, valued at $5,525,905. The disclosure for this sale can be found here. Insiders sold 58,151 shares of company stock worth $4,375,989 over the last quarter. 0.46% of the stock is currently owned by insiders.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.33. The firm had revenue of $67.05 billion during the quarter, compared to analysts’ expectations of $66.54 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. CVS Health’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 EPS. Equities analysts anticipate that CVS Health Co. will post 7.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Friday, January 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, January 21st. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS has been the subject of a number of research analyst reports. Piper Sandler increased their price target on CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Wednesday, November 11th. Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, November 9th. SVB Leerink lifted their price target on CVS Health from $73.00 to $80.00 and gave the stock a “market perform” rating in a research note on Monday, December 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CVS Health in a research report on Monday, November 9th. Finally, Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Friday, January 8th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.93.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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