Intercontinental Wealth Advisors LLC Purchases Shares of 2,878 CVS Health Corporation (CVS)
Intercontinental Wealth Advisors LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,878 shares of the pharmacy operator’s stock, valued at approximately $232,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Horan Capital Advisors LLC. increased its holdings in CVS Health Corporation by 3.2% during the 2nd quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock worth $2,584,000 after purchasing an additional 1,000 shares during the period. Community Bank N.A. increased its holdings in CVS Health Corporation by 7.3% during the 2nd quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock worth $1,608,000 after purchasing an additional 1,362 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in CVS Health Corporation by 3.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock worth $13,840,000 after purchasing an additional 5,478 shares during the period. Midwest Investment Management LLC increased its holdings in CVS Health Corporation by 6.2% during the 2nd quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock worth $1,720,000 after purchasing an additional 1,245 shares during the period. Finally, Fiduciary Trust Co. increased its holdings in CVS Health Corporation by 1.2% during the 1st quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock worth $28,732,000 after purchasing an additional 4,265 shares during the period. Institutional investors own 82.04% of the company’s stock.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas M. Moriarty sold 90,267 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the sale, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock valued at $58,119,381 over the last ninety days. 0.61% of the stock is owned by insiders.
Shares of CVS Health Corporation (NYSE:CVS) opened at $70.26 on Friday. CVS Health Corporation has a 1 year low of $66.45 and a 1 year high of $84.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. The firm has a market capitalization of $70,706.84, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. During the same period last year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. equities analysts predict that CVS Health Corporation will post 5.9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.85%. CVS Health Corporation’s payout ratio is 41.32%.
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Several equities research analysts have weighed in on CVS shares. Robert W. Baird restated a “hold” rating and set a $77.00 price target on shares of CVS Health Corporation in a report on Friday, October 27th. Mizuho set a $90.00 price objective on CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, October 24th. BidaskClub downgraded CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Loop Capital began coverage on CVS Health Corporation in a report on Thursday, August 24th. They issued a “hold” rating and a $83.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. CVS Health Corporation presently has an average rating of “Buy” and an average target price of $85.82.
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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