CVS Health Corporation (CVS) Shares Bought by Doyle Wealth Management
Doyle Wealth Management increased its stake in shares of CVS Health Corporation (NYSE:CVS) by 21.0% during the second quarter, Holdings Channel reports. The fund owned 3,212 shares of the pharmacy operator’s stock after buying an additional 558 shares during the period. Doyle Wealth Management’s holdings in CVS Health Corporation were worth $258,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mercer Capital Advisers Inc. acquired a new stake in shares of CVS Health Corporation during the first quarter worth $118,000. Gemmer Asset Management LLC boosted its stake in shares of CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares in the last quarter. TB Alternative Assets Ltd. acquired a new stake in shares of CVS Health Corporation during the second quarter worth $121,000. Orrstown Financial Services Inc. boosted its stake in shares of CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock worth $165,000 after buying an additional 2,000 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in shares of CVS Health Corporation by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 734 shares in the last quarter. Institutional investors and hedge funds own 82.31% of the company’s stock.
CVS Health Corporation (NYSE CVS) traded up 0.0111% during trading on Thursday, reaching $79.2588. 1,542,407 shares of the company’s stock traded hands. The stock has a market capitalization of $80.57 billion, a P/E ratio of 15.7886 and a beta of 0.91. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44. The company has a 50-day moving average of $78.82 and a 200 day moving average of $78.95.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same period in the prior year, the company earned $1.32 EPS. CVS Health Corporation’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s payout ratio is 39.92%.
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CVS has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a research note on Friday, June 9th. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target for the company in a research note on Wednesday, May 24th. Evercore ISI reiterated an “outperform” rating and set a $88.00 price target (up previously from $87.00) on shares of CVS Health Corporation in a research note on Wednesday, May 3rd. Cowen and Company reiterated an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Finally, Tigress Financial initiated coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They set a “buy” rating for the company. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. CVS Health Corporation currently has an average rating of “Buy” and a consensus target price of $91.48.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,333 shares of the business’s 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 sale, the executive vice president now owns 59,301 shares in the company, valued at approximately $4,744,080. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following 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. Insiders sold a total of 271,175 shares of company stock valued at $21,632,597 over the last three months. 0.61% of the stock is owned by corporate 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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