Forte Capital LLC ADV Boosts Position in CVS Health Corporation (CVS)
Forte Capital LLC ADV boosted its position in shares of CVS Health Corporation (NYSE:CVS) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,962 shares of the pharmacy operator’s stock after acquiring an additional 1,156 shares during the quarter. CVS Health Corporation accounts for 1.4% of Forte Capital LLC ADV’s portfolio, making the stock its 18th biggest holding. Forte Capital LLC ADV’s holdings in CVS Health Corporation were worth $4,100,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CVS. CGOV Asset Management increased its position in CVS Health Corporation by 0.3% during the first quarter. CGOV Asset Management now owns 1,148,337 shares of the pharmacy operator’s stock valued at $120,090,000 after acquiring an additional 3,466 shares during the last quarter. Waldron LP increased its position in CVS Health Corporation by 217.4% during the first quarter. Waldron LP now owns 10,633 shares of the pharmacy operator’s stock valued at $835,000 after acquiring an additional 7,283 shares during the last quarter. Fisher Asset Management LLC increased its position in CVS Health Corporation by 95.1% during the first quarter. Fisher Asset Management LLC now owns 263,189 shares of the pharmacy operator’s stock valued at $20,660,000 after acquiring an additional 128,272 shares during the last quarter. Buckhead Capital Management LLC increased its position in CVS Health Corporation by 21.7% during the first quarter. Buckhead Capital Management LLC now owns 112,211 shares of the pharmacy operator’s stock valued at $8,809,000 after acquiring an additional 19,992 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its position in CVS Health Corporation by 4.6% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 70,353 shares of the pharmacy operator’s stock valued at $5,523,000 after acquiring an additional 3,093 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.
In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares in the company, valued at approximately $5,580,820.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 696,078 shares of company stock valued at $56,650,631. 0.61% of the stock is owned by company insiders.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.4540% during trading on Thursday, reaching $81.1001. The company had a trading volume of 1,413,282 shares. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $90.85. The company has a market capitalization of $82.44 billion, a PE ratio of 16.1554 and a beta of 0.92. The stock’s 50-day moving average price is $79.11 and its 200-day moving average price is $78.98.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $45.36 billion. During the same period in the previous year, the business earned $1.32 EPS. CVS Health Corporation’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts expect that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.47%. CVS Health Corporation’s dividend payout ratio (DPR) is currently 39.92%.
A number of analysts recently commented on the company. Cowen and Company reiterated an “outperform” rating and set a $86.00 price objective on shares of CVS Health Corporation in a research report on Tuesday, June 13th. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. reduced their price target on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Royal Bank Of Canada initiated coverage on CVS Health Corporation in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price target for the company. Finally, Wolfe Research cut CVS Health Corporation from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $90.58.
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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