CVS Health Corporation (CVS) Shares Sold by Davidson & Garrard Inc.
Davidson & Garrard Inc. lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,185 shares of the pharmacy operator’s stock after selling 571 shares during the period. CVS Health Corporation makes up 1.9% of Davidson & Garrard Inc.’s holdings, making the stock its 10th largest position. Davidson & Garrard Inc.’s holdings in CVS Health Corporation were worth $8,179,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Mercer Capital Advisers Inc. purchased a new position in shares of CVS Health Corporation during the first quarter valued at approximately $118,000. 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 valued at $165,000 after buying an additional 2,000 shares during the period. Edmp Inc. purchased a new position in shares of CVS Health Corporation during the first quarter valued at approximately $202,000. Pinnacle Bank purchased a new position in shares of CVS Health Corporation during the first quarter valued at approximately $203,000. Finally, Doyle Wealth Management purchased a new position in shares of CVS Health Corporation during the first quarter valued at approximately $208,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.
CVS Health Corporation (CVS) traded down 0.05% during midday trading on Friday, reaching $75.35. The company’s stock had a trading volume of 6,416,456 shares. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $94.20. The company’s 50-day moving average is $78.28 and its 200 day moving average is $78.95. The firm has a market cap of $76.60 billion, a price-to-earnings ratio of 15.01 and a beta of 0.91. CVS Health Corporation also was the target of unusually large options trading activity on Thursday. Investors purchased 10,158 put options on the company. This represents an increase of approximately 253% compared to the typical volume of 2,877 put options.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter last year, the firm earned $1.32 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 annualized dividend and a yield of 2.65%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
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Several equities analysts have recently commented on the company. Citigroup Inc. reduced their price objective on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Loop Capital assumed coverage on CVS Health Corporation in a research report on Thursday. They set a “hold” rating and a $83.00 price objective on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a research report on Friday, June 9th. Finally, Wolfe Research lowered CVS Health Corporation from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $89.00 to $82.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $90.83.
In related news, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction that occurred on Monday, June 12th. The shares were 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 owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The disclosure for this sale can be found here. Insiders sold a total of 273,675 shares of company stock valued at $21,831,647 in the last quarter. 0.61% of the stock is owned by 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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