CVS Health Corporation (CVS) is Barnett & Company Inc.’s 2nd Largest Position
Barnett & Company Inc. cut its position in shares of CVS Health Corporation (NYSE:CVS) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,677 shares of the pharmacy operator’s stock after selling 100 shares during the period. CVS Health Corporation accounts for approximately 3.2% of Barnett & Company Inc.’s investment portfolio, making the stock its 2nd largest position. Barnett & Company Inc.’s holdings in CVS Health Corporation were worth $5,784,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of CVS. United Bank increased its stake in shares of CVS Health Corporation by 12.7% in the first quarter. United Bank now owns 15,907 shares of the pharmacy operator’s stock worth $1,249,000 after buying an additional 1,790 shares in the last quarter. State of Wisconsin Investment Board increased its stake in shares of CVS Health Corporation by 10.3% in the first quarter. State of Wisconsin Investment Board now owns 1,432,714 shares of the pharmacy operator’s stock worth $112,468,000 after buying an additional 133,507 shares in the last quarter. Holderness Investments Co. increased its stake in shares of CVS Health Corporation by 61.6% in the first quarter. Holderness Investments Co. now owns 7,041 shares of the pharmacy operator’s stock worth $553,000 after buying an additional 2,684 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of CVS Health Corporation by 53.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 60,073 shares of the pharmacy operator’s stock worth $4,716,000 after buying an additional 20,874 shares in the last quarter. Finally, Blue Chip Partners Inc. acquired a new stake in shares of CVS Health Corporation during the first quarter worth $236,000. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
CVS Health Corporation (NYSE CVS) traded up 0.14% on Monday, hitting $77.77. The stock had a trading volume of 776,656 shares. The company has a market cap of $79.06 billion, a P/E ratio of 15.49 and a beta of 0.91. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $98.44. The stock’s 50-day moving average is $78.68 and its 200-day moving average is $78.94.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping 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 firm earned $1.32 earnings per share. CVS Health Corporation’s revenue was up 4.5% on a year-over-year basis. Analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio is 39.92%.
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A number of equities research analysts have weighed in on the company. Citigroup Inc. reduced their target price on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday. Robert W. Baird reissued an “outperform” rating and set a $90.00 price objective on shares of CVS Health Corporation in a report on Monday, August 14th. Wolfe Research downgraded CVS Health Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $89.00 to $82.00 in a report on Monday, August 14th. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a report on Friday, July 14th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $91.24.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the completion of the transaction, the executive vice president now owns 59,300 shares of the company’s stock, valued at $4,564,914. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the transaction, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The disclosure for this sale can be found here. Insiders have sold 273,675 shares of company stock valued at $21,831,647 in the last ninety days. 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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