Maple Capital Management Inc. Has $6.88 Million Position in CVS Health Corporation (CVS)
Maple Capital Management Inc. increased its position in CVS Health Corporation (NYSE:CVS) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,650 shares of the pharmacy operator’s stock after buying an additional 2,000 shares during the period. CVS Health Corporation accounts for about 2.0% of Maple Capital Management Inc.’s holdings, making the stock its 18th largest position. Maple Capital Management Inc.’s holdings in CVS Health Corporation were worth $6,881,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of CVS. Thompson Siegel & Walmsley LLC raised its stake in CVS Health Corporation by 125.8% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 34,839 shares of the pharmacy operator’s stock worth $2,749,000 after buying an additional 19,410 shares during the period. Iberiabank Corp raised its stake in shares of CVS Health Corporation by 18.1% in the fourth quarter. Iberiabank Corp now owns 8,297 shares of the pharmacy operator’s stock worth $655,000 after buying an additional 1,274 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of CVS Health Corporation during the fourth quarter worth $3,347,000. Gideon Capital Advisors Inc. purchased a new stake in shares of CVS Health Corporation during the fourth quarter worth $612,000. Finally, Citizens & Northern Corp raised its stake in shares of CVS Health Corporation by 0.3% in the fourth quarter. Citizens & Northern Corp now owns 24,049 shares of the pharmacy operator’s stock worth $1,898,000 after buying an additional 78 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.
CVS Health Corporation (NYSE CVS) traded down 0.70% during midday trading on Tuesday, reaching $78.57. 8,637,190 shares of the company were exchanged. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $98.44. The firm’s 50-day moving average price is $78.62 and its 200 day moving average price is $79.09. The stock has a market capitalization of $80.05 billion, a price-to-earnings ratio of 16.39 and a beta of 0.91. CVS Health Corporation also saw some unusual options trading on Monday. Investors bought 12,222 put options on the stock. This represents an increase of approximately 254% compared to the typical daily volume of 3,454 put options.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The company had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter last year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that CVS Health Corporation will post $5.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.00 annualized dividend and a yield of 2.55%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.67%.
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Several equities research analysts recently commented on the stock. Vetr lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price target on the stock. in a research note on Thursday, April 27th. Tigress Financial assumed coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They set a “buy” rating on the stock. Needham & Company LLC assumed coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They set a “hold” rating on the stock. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Finally, Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $92.20.
In other news, EVP Helena Foulkes sold 20,332 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $76.98, for a total value of $1,565,157.36. Following the sale, the executive vice president now owns 59,300 shares in the company, valued at $4,564,914. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the sale, the chief financial officer now owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,175 shares of company stock worth $21,632,597. Corporate insiders own 0.61% of the company’s stock.
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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