First Interstate Bank raised its stake in CVS Health Corporation (NYSE:CVS) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,845 shares of the pharmacy operator’s stock after buying an additional 720 shares during the period. First Interstate Bank’s holdings in CVS Health Corporation were worth $655,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in CVS. Iberiabank Corp increased its position in CVS Health Corporation by 11.0% in the first quarter. Iberiabank Corp now owns 7,292 shares of the pharmacy operator’s stock worth $756,000 after buying an additional 723 shares during the period. Mission Wealth Management LLC increased its position in CVS Health Corporation by 2.8% in the first quarter. Mission Wealth Management LLC now owns 3,789 shares of the pharmacy operator’s stock worth $393,000 after buying an additional 102 shares during the period. Culbertson A N & Co. Inc. purchased a new position in CVS Health Corporation during the first quarter worth approximately $11,318,000. Alpha Windward LLC increased its position in CVS Health Corporation by 130.4% in the first quarter. Alpha Windward LLC now owns 7,058 shares of the pharmacy operator’s stock worth $732,000 after buying an additional 3,995 shares during the period. Finally, Burke & Herbert Bank & Trust Co. increased its position in CVS Health Corporation by 11.3% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 5,286 shares of the pharmacy operator’s stock worth $548,000 after buying an additional 536 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.8337% during mid-day trading on Monday, hitting $89.8447. The company had a trading volume of 2,219,407 shares. The firm’s 50 day moving average is $94.04 and its 200-day moving average is $97.81. CVS Health Corporation has a 12-month low of $86.50 and a 12-month high of $106.67. The firm has a market cap of $95.79 billion, a PE ratio of 20.6682 and a beta of 0.84.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.02. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business earned $43.70 billion during the quarter, compared to analysts’ expectations of $44.28 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, equities analysts expect that CVS Health Corporation will post $5.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.70 annualized dividend and a dividend yield of 1.90%. CVS Health Corporation’s dividend payout ratio is presently 39.08%.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Deutsche Bank AG raised their price objective on CVS Health Corporation from $99.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, August 3rd. FBR & Co reiterated an “outperform” rating and issued a $120.00 target price on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Leerink Swann reiterated a “buy” rating on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Finally, Mizuho increased their target price on CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. CVS Health Corporation presently has a consensus rating of “Buy” and a consensus target price of $113.02.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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