Torch Wealth Management LLC bought a new position in CVS Health Corporation (NYSE:CVS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,800 shares of the pharmacy operator’s stock, valued at approximately $1,130,000.
Other institutional investors have also recently modified their holdings of the company. Atwood & Palmer Inc. boosted its position in shares of CVS Health Corporation by 1.5% in the second quarter. Atwood & Palmer Inc. now owns 202,127 shares of the pharmacy operator’s stock worth $19,352,000 after buying an additional 3,059 shares in the last quarter. Sentry Investments Corp. raised its stake in CVS Health Corporation by 6.3% in the first quarter. Sentry Investments Corp. now owns 2,179,600 shares of the pharmacy operator’s stock worth $226,090,000 after buying an additional 128,300 shares during the last quarter. Lodestar Investment Counsel LLC IL raised its stake in CVS Health Corporation by 4.2% in the second quarter. Lodestar Investment Counsel LLC IL now owns 176,387 shares of the pharmacy operator’s stock worth $16,887,000 after buying an additional 7,136 shares during the last quarter. TIAA CREF Trust Co. FSB MO raised its stake in CVS Health Corporation by 2.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 200,005 shares of the pharmacy operator’s stock worth $19,149,000 after buying an additional 4,913 shares during the last quarter. Finally, Scharf Investments LLC raised its stake in CVS Health Corporation by 4.2% in the first quarter. Scharf Investments LLC now owns 1,914,846 shares of the pharmacy operator’s stock worth $198,627,000 after buying an additional 76,797 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.03% during mid-day trading on Friday, hitting $90.60. The stock had a trading volume of 3,865,273 shares. The stock’s 50-day moving average is $94.04 and its 200 day moving average is $97.81. The company has a market cap of $96.60 billion, a PE ratio of 20.84 and a beta of 0.84. 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 announced its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. The firm had revenue of $43.70 billion for 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 company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. On average, equities research analysts forecast that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.
The company 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. This represents a $1.70 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, October 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.08%.
A number of equities research analysts recently commented on the company. Mizuho increased their price target on CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Citigroup Inc. lowered their price target on CVS Health Corporation from $115.00 to $108.00 and set a “neutral” rating for the company in a research report on Monday, August 8th. 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 report on Monday, July 25th. Morgan Stanley lowered CVS Health Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $111.00 to $104.00 in a research report on Monday, June 20th. Finally, Leerink Swann reissued a “buy” rating on shares of CVS Health Corporation in a research report on Wednesday, August 3rd. Six investment 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. The stock currently has a consensus rating of “Buy” and an average price target of $113.02.
About CVS Health Corporation
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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