Lowe Brockenbrough & Co. Inc. Has $2.41 Million Holdings in CVS Health Corporation (CVS)
Lowe Brockenbrough & Co. Inc. reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 10.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,908 shares of the pharmacy operator’s stock after selling 3,577 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in CVS Health Corporation were worth $2,406,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Capital Advisers Inc. acquired a new stake in CVS Health Corporation during the 1st quarter worth about $118,000. TB Alternative Assets Ltd. acquired a new stake in CVS Health Corporation during the 2nd quarter worth about $121,000. Gemmer Asset Management LLC grew its position in 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 worth $121,000 after purchasing an additional 200 shares during the period. SRS Capital Advisors Inc. grew its position in 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 worth $177,000 after purchasing an additional 734 shares during the period. Finally, Grace & White Inc. NY acquired a new stake in CVS Health Corporation during the 2nd quarter worth about $199,000. 81.51% of the stock is currently owned by institutional investors.
CVS Health Corporation (CVS) opened at 76.92 on Monday. The stock has a market cap of $78.19 billion, a PE ratio of 15.32 and a beta of 0.92. The firm has a 50-day moving average of $79.64 and a 200 day moving average of $79.03. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $88.92.
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, topping the 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 company had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.36 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that CVS Health Corporation will post $5.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s payout ratio is currently 39.92%.
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CVS has been the topic of several analyst reports. Vetr downgraded CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price target on the stock. in a research report on Monday, June 12th. Cowen and Company reaffirmed an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Needham & Company LLC began coverage on CVS Health Corporation in a research report on Tuesday, June 27th. They set a “hold” rating on the stock. Finally, Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. One 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 company has a consensus rating of “Buy” and an average price target of $89.56.
In related news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The disclosure for this sale can be found here. Insiders sold 716,625 shares of company stock valued at $58,318,431 in the last three months. Company insiders own 0.61% of the company’s stock.
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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