Montag & Caldwell LLC reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,350,557 shares of the pharmacy operator’s stock after selling 77,129 shares during the period. CVS Health Corporation accounts for approximately 2.6% of Montag & Caldwell LLC’s portfolio, making the stock its 14th largest position. Montag & Caldwell LLC’s holdings in CVS Health Corporation were worth $129,302,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of CVS. Badgley Phelps & Bell Inc. boosted its stake in CVS Health Corporation by 6.0% in the first quarter. Badgley Phelps & Bell Inc. now owns 109,359 shares of the pharmacy operator’s stock valued at $11,344,000 after buying an additional 6,208 shares in the last quarter. IFP Advisors Inc boosted its stake in CVS Health Corporation by 4.9% in the first quarter. IFP Advisors Inc now owns 20,648 shares of the pharmacy operator’s stock valued at $2,142,000 after buying an additional 964 shares in the last quarter. Cortland Associates Inc. MO boosted its stake in CVS Health Corporation by 29.8% in the first quarter. Cortland Associates Inc. MO now owns 533,584 shares of the pharmacy operator’s stock valued at $55,349,000 after buying an additional 122,372 shares in the last quarter. Northern Oak Wealth Management Inc. boosted its stake in CVS Health Corporation by 18.3% in the first quarter. Northern Oak Wealth Management Inc. now owns 50,690 shares of the pharmacy operator’s stock valued at $5,258,000 after buying an additional 7,836 shares in the last quarter. Finally, Middleton & Co Inc MA boosted its stake in CVS Health Corporation by 17.7% in the first quarter. Middleton & Co Inc MA now owns 93,179 shares of the pharmacy operator’s stock valued at $9,665,000 after buying an additional 14,030 shares in the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded down 2.41% during trading on Monday, reaching $86.66. The company’s stock had a trading volume of 7,381,666 shares. The company has a market cap of $92.40 billion, a P/E ratio of 19.94 and a beta of 0.83. CVS Health Corporation has a 52 week low of $85.41 and a 52 week high of $106.67. The company’s 50 day moving average price is $89.92 and its 200 day moving average price is $96.23.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The company earned $43.70 billion during the quarter, compared to analyst estimates of $44.28 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, October 20th. CVS Health Corporation’s dividend payout ratio (DPR) is 39.08%.
CVS has been the topic of several analyst reports. Morgan Stanley cut CVS Health Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $111.00 to $104.00 in a research report on Monday, June 20th. Deutsche Bank AG increased their price target on CVS Health Corporation from $99.00 to $105.00 and gave the company a “hold” rating in a research note on Wednesday, June 22nd. Mizuho reaffirmed a “buy” rating and set a $108.00 price target (down from $117.00) on shares of CVS Health Corporation in a research note on Thursday, June 23rd. Jefferies Group reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Finally, Vetr lowered CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 price target for the company. in a research note on Monday, July 25th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $112.40.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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