CVS Health Corporation (CVS) Stake Reduced by Ipswich Investment Management Co. Inc.
Ipswich Investment Management Co. Inc. lowered its position in CVS Health Corporation (NYSE:CVS) by 23.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,513 shares of the pharmacy operator’s stock after selling 2,030 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in CVS Health Corporation were worth $524,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Mercer Capital Advisers Inc. acquired a new stake in CVS Health Corporation during the first quarter worth approximately $118,000. Gemmer Asset Management LLC raised its stake in 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 CVS Health Corporation during the second quarter worth approximately $121,000. Orrstown Financial Services Inc. raised its stake in 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. raised its stake in 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. Hedge funds and other institutional investors own 82.31% of the company’s stock.
CVS Health Corporation (NYSE CVS) traded down 1.56% on Friday, hitting $77.66. The company’s stock had a trading volume of 5,005,371 shares. The firm has a 50 day moving average of $78.68 and a 200-day moving average of $78.94. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44. The stock has a market cap of $78.95 billion, a PE ratio of 15.47 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 earnings per share. On average, analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
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CVS has been the topic of a number of research analyst reports. Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target on the stock in a research report on Wednesday, May 24th. Tigress Financial initiated coverage on CVS Health Corporation in a research report on Thursday, April 27th. They set a “buy” rating on the stock. Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Finally, Needham & Company LLC initiated coverage on CVS Health Corporation in a research report on Tuesday, June 27th. They set a “hold” rating on the stock. Nine equities research 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 an average target price of $91.24.
In other news, Director Richard J. Swift sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares of the company’s stock, valued at $259,401.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at $14,158,640. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,675 shares of company stock valued at $21,831,647. Company insiders own 0.61% of the company’s stock.
About CVS Health Corporation
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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