CVS Health Corp (NYSE:CVS) Stake Lowered by Livingston Group Asset Management CO operating as Southport Capital Management
Livingston Group Asset Management CO operating as Southport Capital Management lowered its holdings in CVS Health Corp (NYSE:CVS) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 81,899 shares of the pharmacy operator’s stock after selling 2,144 shares during the period. CVS Health accounts for about 2.4% of Livingston Group Asset Management CO operating as Southport Capital Management’s investment portfolio, making the stock its 3rd biggest holding. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in CVS Health were worth $6,084,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signet Financial Management LLC increased its holdings in shares of CVS Health by 8.4% in the 3rd quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock valued at $363,000 after acquiring an additional 391 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of CVS Health during the third quarter worth approximately $22,738,000. Regal Investment Advisors LLC grew its position in shares of CVS Health by 349.5% during the third quarter. Regal Investment Advisors LLC now owns 43,073 shares of the pharmacy operator’s stock worth $2,717,000 after acquiring an additional 33,491 shares during the last quarter. River & Mercantile Asset Management LLP grew its position in shares of CVS Health by 17.5% during the second quarter. River & Mercantile Asset Management LLP now owns 154,572 shares of the pharmacy operator’s stock worth $8,425,000 after acquiring an additional 23,061 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of CVS Health in the 3rd quarter valued at $41,422,000. Institutional investors and hedge funds own 76.64% of the company’s stock.
In other CVS Health news, EVP Karen S. Lynch sold 80,143 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $75.00, for a total value of $6,010,725.00. Following the completion of the sale, the executive vice president now owns 41,831 shares of the company’s stock, valued at $3,137,325. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the completion of the sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at approximately $7,338,628. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,310 shares of company stock worth $11,796,598. Company insiders own 0.53% of the company’s stock.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The company had revenue of $64.81 billion for the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The firm’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. As a group, sell-side analysts expect that CVS Health Corp will post 7.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.50 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.65%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
Several brokerages have recently weighed in on CVS. Cowen set a $76.00 target price on shares of CVS Health and gave the stock a “buy” rating in a research note on Monday, October 21st. UBS Group reissued a “buy” rating and set a $78.00 price target on shares of CVS Health in a report on Thursday, November 7th. Morgan Stanley boosted their price target on CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Citigroup upped their price objective on CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. They noted that the move was a valuation call. Finally, ValuEngine cut CVS Health from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and a consensus price target of $77.43.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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