CVS Health Corporation (NYSE:CVS) Position Lowered by TIAA CREF Trust Co. FSB MO
TIAA CREF Trust Co. FSB MO cut its position in shares of CVS Health Corporation (NYSE:CVS) by 26.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 147,827 shares of the pharmacy operator’s stock after selling 52,937 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in CVS Health Corporation were worth $11,604,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NWQ Investment Management Company LLC boosted its position in shares of CVS Health Corporation by 44.8% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,352,559 shares of the pharmacy operator’s stock worth $106,730,000 after buying an additional 418,601 shares during the last quarter. Naples Global Advisors LLC purchased a new position in shares of CVS Health Corporation during the first quarter worth approximately $452,000. Regent Investment Management LLC boosted its position in shares of CVS Health Corporation by 0.6% in the first quarter. Regent Investment Management LLC now owns 66,818 shares of the pharmacy operator’s stock worth $5,245,000 after buying an additional 429 shares during the last quarter. Thompson Rubinstein Investment Management Inc. OR boosted its position in shares of CVS Health Corporation by 8.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 39,646 shares of the pharmacy operator’s stock worth $3,112,000 after buying an additional 3,159 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of CVS Health Corporation by 17.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,139 shares of the pharmacy operator’s stock worth $7,233,000 after buying an additional 14,012 shares during the last quarter. Institutional investors own 82.05% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) traded down 0.80% during mid-day trading on Friday, hitting $77.97. The stock had a trading volume of 6,059,441 shares. The firm has a market capitalization of $79.44 billion, a price-to-earnings ratio of 16.26 and a beta of 0.91. The stock’s 50-day moving average is $78.75 and its 200 day moving average is $79.09. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.44.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.07. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The company had revenue of $44.51 billion during the quarter, compared to the consensus estimate of $44.20 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. CVS Health Corporation’s revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that CVS Health Corporation will post $5.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s payout ratio is currently 41.67%.
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CVS has been the subject of a number of research reports. Evercore ISI reiterated an “outperform” rating and issued a $88.00 price target (up from $87.00) on shares of CVS Health Corporation in a research note on Wednesday, May 3rd. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price target for the company in a research note on Wednesday, May 17th. ValuEngine cut CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Tigress Financial began coverage on CVS Health Corporation in a research note on Thursday, April 27th. They issued a “buy” rating for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.20.
In related news, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the transaction, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at $14,158,640. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Helena Foulkes sold 20,333 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the completion of the transaction, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at $4,744,080. The disclosure for this sale can be found here. Over the last three months, insiders sold 271,175 shares of company stock valued at $21,632,597. 0.61% of the stock is owned by insiders.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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