CVS Health Corporation (CVS) Holdings Lessened by Busey Trust CO
Busey Trust CO trimmed its holdings in CVS Health Corporation (NYSE:CVS) by 50.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,901 shares of the pharmacy operator’s stock after selling 2,997 shares during the period. Busey Trust CO’s holdings in CVS Health Corporation were worth $233,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CVS. Mercer Capital Advisers Inc. acquired a new position in shares of CVS Health Corporation in the 1st quarter valued at approximately $118,000. Gemmer Asset Management LLC raised its position in shares of CVS Health Corporation by 15.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after acquiring an additional 200 shares in the last quarter. TB Alternative Assets Ltd. acquired a new stake in shares of CVS Health Corporation during the 2nd quarter valued at approximately $121,000. SRS Capital Advisors Inc. raised its position in shares of CVS Health Corporation by 48.2% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after acquiring an additional 734 shares in the last quarter. Finally, Nadler Financial Group Inc. acquired a new stake in shares of CVS Health Corporation during the 2nd quarter valued at approximately $202,000. 81.49% of the stock is currently owned by institutional investors.
CVS Health Corporation (NYSE:CVS) opened at 80.07 on Thursday. The stock has a 50 day moving average price of $79.65 and a 200 day moving average price of $79.03. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $88.92. The company has a market cap of $81.40 billion, a PE ratio of 15.95 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be given a $0.50 dividend. The ex-dividend date is Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.50%. CVS Health Corporation’s payout ratio is 39.92%.
In other CVS Health Corporation news, CFO David M. Denton sold 237,078 shares of CVS Health Corporation stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the completion of the transaction, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction on Wednesday, August 16th. The shares were 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 owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 716,625 shares of company stock valued at $58,318,431. Corporate insiders own 0.61% of the company’s stock.
Several research firms recently issued reports on CVS. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. dropped their price target 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. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, June 9th. 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 report on Monday, August 14th. Finally, Royal Bank Of Canada began coverage on CVS Health Corporation in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.56.
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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