Novare Capital Management LLC raised its position in CVS Health Corporation (NYSE:CVS) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,762 shares of the pharmacy operator’s stock after buying an additional 2,647 shares during the period. CVS Health Corporation makes up 2.4% of Novare Capital Management LLC’s portfolio, making the stock its 3rd largest position. Novare Capital Management LLC’s holdings in CVS Health Corporation were worth $9,073,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its stake in CVS Health Corporation by 35.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,772 shares of the pharmacy operator’s stock worth $1,532,000 after buying an additional 3,875 shares during the last quarter. Manning & Napier Advisors LLC raised its stake in CVS Health Corporation by 0.9% in the first quarter. Manning & Napier Advisors LLC now owns 87,090 shares of the pharmacy operator’s stock worth $9,033,000 after buying an additional 790 shares during the last quarter. Quotient Investors LLC raised its stake in CVS Health Corporation by 17.2% in the first quarter. Quotient Investors LLC now owns 6,800 shares of the pharmacy operator’s stock worth $705,000 after buying an additional 1,000 shares during the last quarter. Campbell Newman Asset Management Inc. raised its stake in CVS Health Corporation by 4.5% in the first quarter. Campbell Newman Asset Management Inc. now owns 163,465 shares of the pharmacy operator’s stock worth $16,956,000 after buying an additional 7,013 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in CVS Health Corporation by 17.8% in the first quarter. Koshinski Asset Management Inc. now owns 3,505 shares of the pharmacy operator’s stock worth $364,000 after buying an additional 530 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.80% on Tuesday, hitting $90.64. The stock had a trading volume of 1,977,894 shares. The firm has a market cap of $96.64 billion, a P/E ratio of 20.85 and a beta of 0.84. The company’s 50-day moving average price is $93.82 and its 200 day moving average price is $97.71. CVS Health Corporation has a 12-month low of $86.50 and a 12-month high of $106.67.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.02. The company earned $43.70 billion during the quarter, compared to the consensus estimate of $44.28 billion. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. On average, equities research analysts forecast that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be paid 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 1.89%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.08%.
CVS has been the topic of a number of recent research reports. Morgan Stanley restated a “hold” rating and set a $104.00 target price on shares of CVS Health Corporation in a research note on Monday, September 12th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $115.00 price target on shares of CVS Health Corporation in a report on Tuesday, September 20th. Vetr downgraded CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 price target for the company. in a report on Monday, July 25th. Deutsche Bank AG upped their price target on CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, August 3rd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 4th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average 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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