CVS Health Corporation (CVS) Stake Cut by Keating Investment Counselors Inc.
Keating Investment Counselors Inc. reduced its position in CVS Health Corporation (NYSE:CVS) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,170 shares of the pharmacy operator’s stock after selling 175 shares during the period. CVS Health Corporation comprises approximately 2.9% of Keating Investment Counselors Inc.’s portfolio, making the stock its 15th largest position. Keating Investment Counselors Inc.’s holdings in CVS Health Corporation were worth $5,888,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of CVS. Bank of Montreal Can purchased a new stake in CVS Health Corporation during the second quarter worth $438,948,000. Nordea Investment Management AB increased its stake in CVS Health Corporation by 61.3% in the second quarter. Nordea Investment Management AB now owns 11,644,431 shares of the pharmacy operator’s stock worth $1,114,838,000 after buying an additional 4,423,216 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in CVS Health Corporation during the second quarter worth $152,524,000. Westwood Holdings Group Inc. increased its stake in CVS Health Corporation by 1,125.2% in the second quarter. Westwood Holdings Group Inc. now owns 1,516,808 shares of the pharmacy operator’s stock worth $145,220,000 after buying an additional 1,393,009 shares during the last quarter. Finally, Sentry Investments Corp. increased its stake in CVS Health Corporation by 62.1% in the second quarter. Sentry Investments Corp. now owns 3,532,600 shares of the pharmacy operator’s stock worth $338,211,000 after buying an additional 1,353,000 shares during the last quarter. 80.44% of the stock is currently owned by institutional investors.
CVS Health Corporation (NYSE:CVS) traded up 1.47% during mid-day trading on Tuesday, reaching $75.88. The company’s stock had a trading volume of 7,506,025 shares. The firm has a 50 day moving average price of $81.47 and a 200 day moving average price of $91.44. The company has a market cap of $80.92 billion, a price-to-earnings ratio of 16.26 and a beta of 0.88. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $106.67.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.07. CVS Health Corporation had a return on equity of 17.18% and a net margin of 2.96%. The firm earned $44.60 billion during the quarter, compared to analyst estimates of $45.29 billion. During the same period last year, the company posted $1.28 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that CVS Health Corporation will post $5.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, October 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 36.40%.
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CVS has been the subject of a number of recent research reports. Credit Suisse Group AG restated an “outperform” rating and set a $110.00 target price (down previously from $115.00) on shares of CVS Health Corporation in a research report on Tuesday, October 4th. Robert W. Baird dropped their price objective on CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating for the company in a report on Monday, October 3rd. Leerink Swann reiterated an “outperform” rating and issued a $105.00 price objective (down previously from $110.00) on shares of CVS Health Corporation in a report on Sunday, October 2nd. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $98.36 price objective for the company in a report on Monday, October 24th. Finally, Mizuho reiterated a “buy” rating and issued a $111.00 price objective on shares of CVS Health Corporation in a report on Friday, September 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $106.24.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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