CVS Health Corporation (CVS) Shares Sold by Forsta AP Fonden
Forsta AP Fonden decreased its position in shares of CVS Health Corporation (NYSE:CVS) by 45.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,352 shares of the pharmacy operator’s stock after selling 248,500 shares during the period. Forsta AP Fonden’s holdings in CVS Health Corporation were worth $24,166,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Mercer Capital Advisers Inc. purchased a new position in shares of CVS Health Corporation during the first quarter worth approximately $118,000. TB Alternative Assets Ltd. purchased a new position in shares of CVS Health Corporation during the second quarter worth approximately $121,000. Gemmer Asset Management LLC raised its position 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 during the last quarter. Orrstown Financial Services Inc. raised its position 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 during the last quarter. Finally, SRS Capital Advisors Inc. raised its position 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 during the last quarter. 82.31% of the stock is owned by institutional investors.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.37% during midday trading on Tuesday, hitting $77.93. The company had a trading volume of 2,382,558 shares. The company has a market capitalization of $79.22 billion, a PE ratio of 15.52 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 $78.60 and a 200-day moving average of $78.97.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current year.
The company also recently declared 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 yield of 2.58%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is 39.92%.
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A number of brokerages recently commented on CVS. Citigroup Inc. dropped their price target on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a research note on Friday, June 9th. Robert W. Baird reissued an “outperform” rating and set a $90.00 price target on shares of CVS Health Corporation in a research note on Monday, August 14th. Finally, Wolfe Research lowered CVS Health Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $89.00 to $82.00 in a research note on Monday, August 14th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $91.24.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the transaction, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Insiders have sold 273,675 shares of company stock worth $21,831,647 over the last 90 days. 0.61% of the stock is owned by insiders.
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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