CVS Health Corporation (CVS) Position Maintained by NJ State Employees Deferred Compensation Plan
NJ State Employees Deferred Compensation Plan maintained its stake in shares of CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the pharmacy operator’s stock at the close of the 2nd quarter. NJ State Employees Deferred Compensation Plan’s holdings in CVS Health Corporation were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in CVS. Mercer Capital Advisers Inc. acquired a new position in CVS Health Corporation in the 1st quarter worth $118,000. Gemmer Asset Management LLC boosted its position in CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares during the last quarter. TB Alternative Assets Ltd. purchased a new position in CVS Health Corporation in the 2nd quarter valued at about $121,000. SRS Capital Advisors Inc. boosted its position in CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 734 shares during the last quarter. Finally, Nadler Financial Group Inc. purchased a new position in CVS Health Corporation in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 81.49% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) opened at 80.91 on Wednesday. CVS Health Corporation has a one year low of $69.30 and a one year high of $88.92. The company has a 50 day moving average price of $79.62 and a 200 day moving average price of $79.03. The company has a market cap of $82.25 billion, a P/E ratio of 16.12 and a beta of 0.92.
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 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 business had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently declared 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. This represents a $2.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is 39.92%.
In other news, COO Jonathan C. Roberts sold 85,743 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.14, for a total value of $7,128,673.02. Following the completion of the transaction, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at approximately $9,939,802.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the director now directly owns 3,258 shares of the company’s stock, valued at $259,401.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 716,625 shares of company stock valued at $58,318,431. Corporate insiders own 0.61% of the company’s stock.
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Several brokerages have recently weighed in on CVS. Royal Bank Of Canada began coverage on CVS Health Corporation in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price for the company. Jefferies Group LLC boosted their price target on CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a research note on Friday, September 15th. Needham & Company LLC started coverage on CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating on the stock. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $90.58.
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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