CVS Health Corporation (CVS) Holdings Trimmed by JFS Wealth Advisors LLC
JFS Wealth Advisors LLC cut its holdings in shares of CVS Health Corporation (NYSE:CVS) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,112 shares of the pharmacy operator’s stock after selling 1,580 shares during the period. JFS Wealth Advisors LLC’s holdings in CVS Health Corporation were worth $1,457,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mercer Capital Advisers Inc. bought a new stake in CVS Health Corporation during the first quarter worth $118,000. Gemmer Asset Management LLC lifted its stake in CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after purchasing an additional 200 shares during the last quarter. TB Alternative Assets Ltd. bought a new stake in CVS Health Corporation during the second quarter worth $121,000. SRS Capital Advisors Inc. lifted its stake in CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after purchasing an additional 734 shares during the last quarter. Finally, Nadler Financial Group Inc. bought a new stake in CVS Health Corporation during the second quarter worth $202,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.
Shares of CVS Health Corporation (CVS) opened at 80.07 on Thursday. The firm has a market capitalization of $81.40 billion, a P/E ratio of 15.95 and a beta of 0.92. CVS Health Corporation has a one year low of $69.30 and a one year high of $88.92. The firm’s 50-day moving average price is $79.65 and its 200-day moving average price is $79.03.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s payout ratio is 39.92%.
Several equities research analysts have weighed in on the company. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. cut their target price 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. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a report on Friday, June 9th. Wolfe Research downgraded shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $89.00 to $82.00 in a report on Monday, August 14th. Finally, Royal Bank Of Canada started coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $89.56.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the transaction, the insider now owns 299,255 shares in the company, valued at $24,859,112.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the transaction, the executive vice president now owns 70,102 shares in the company, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. Insiders sold 716,625 shares of company stock worth $58,318,431 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.
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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