Nicholas Hoffman & Company LLC. increased its position in CVS Health Corp (NYSE:CVS) by 45.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,154 shares of the pharmacy operator’s stock after purchasing an additional 1,923 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in CVS Health were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in CVS. Wealth Quarterback LLC bought a new position in CVS Health during the 4th quarter valued at $12,665,010,000. Capital International Investors boosted its stake in CVS Health by 1.8% during the 4th quarter. Capital International Investors now owns 24,743,087 shares of the pharmacy operator’s stock valued at $1,838,162,000 after acquiring an additional 444,995 shares during the last quarter. Geode Capital Management LLC boosted its stake in CVS Health by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 18,668,143 shares of the pharmacy operator’s stock valued at $1,384,017,000 after acquiring an additional 337,843 shares during the last quarter. Norges Bank bought a new position in CVS Health during the 4th quarter valued at $955,672,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,897,473 shares of the pharmacy operator’s stock valued at $883,864,000 after acquiring an additional 220,868 shares during the last quarter. Institutional investors and hedge funds own 76.44% of the company’s stock.
A number of research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of CVS Health from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. SunTrust Banks reduced their price objective on shares of CVS Health from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Cantor Fitzgerald increased their target price on shares of CVS Health from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group dropped their target price on shares of CVS Health from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup dropped their target price on shares of CVS Health from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $80.88.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.63 by $0.28. CVS Health had a net margin of 2.76% and a return on equity of 15.17%. The company had revenue of $66.76 billion for the quarter, compared to analyst estimates of $64.11 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate that CVS Health Corp will post 7.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Thursday, April 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, April 22nd. CVS Health’s payout ratio is 28.25%.
In related news, EVP Alan Lotvin purchased 5,000 shares of CVS Health stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $63.14 per share, for a total transaction of $315,700.00. Following the transaction, the executive vice president now directly owns 15,161 shares in the company, valued at $957,265.54. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James David Clark sold 6,234 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $65.00, for a total transaction of $405,210.00. Following the transaction, the senior vice president now owns 4,817 shares of the company’s stock, valued at approximately $313,105. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
CVS Health Profile
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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