US Bancorp DE grew its position in shares of CVS Health Co. (NYSE:CVS – Free Report) by 50.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 934,062 shares of the pharmacy operator’s stock after purchasing an additional 311,439 shares during the period. US Bancorp DE owned approximately 0.07% of CVS Health worth $64,572,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CVS. Morgan Stanley raised its stake in shares of CVS Health by 10.9% in the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after acquiring an additional 3,311,928 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in CVS Health by 103,371.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after buying an additional 15,532,533 shares during the last quarter. Norges Bank purchased a new position in CVS Health in the fourth quarter valued at $1,425,416,000. FMR LLC increased its holdings in CVS Health by 31.0% in the first quarter. FMR LLC now owns 13,666,949 shares of the pharmacy operator’s stock valued at $1,015,591,000 after buying an additional 3,237,567 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in CVS Health by 3.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,393,434 shares of the pharmacy operator’s stock valued at $836,152,000 after buying an additional 397,285 shares during the last quarter. 75.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CVS has been the topic of a number of research reports. Raymond James lowered their price target on CVS Health from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. TheStreet upgraded shares of CVS Health from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Morgan Stanley reduced their price objective on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Evercore ISI upgraded shares of CVS Health from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $83.00 in a research report on Tuesday, September 19th. Finally, Edward Jones downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.59.
CVS Health Trading Down 1.1 %
Shares of NYSE CVS traded down $0.77 during trading on Thursday, hitting $68.36. 1,156,487 shares of the company traded hands, compared to its average volume of 8,689,147. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $104.83. The company has a 50-day moving average price of $69.76 and a 200-day moving average price of $70.07. The firm has a market capitalization of $87.97 billion, a P/E ratio of 10.35, a P/E/G ratio of 1.77 and a beta of 0.58. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.80.
CVS Health (NYSE:CVS – Get Free Report) last posted its earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.08. The business had revenue of $89.76 billion for the quarter, compared to analyst estimates of $88.29 billion. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 EPS. On average, equities analysts predict that CVS Health Co. will post 8.59 EPS for the current year.
CVS Health Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 20th were issued a $0.605 dividend. The ex-dividend date was Thursday, October 19th. This represents a $2.42 dividend on an annualized basis and a yield of 3.54%. CVS Health’s dividend payout ratio is currently 36.50%.
Insiders Place Their Bets
In other news, Director Edward J. Ludwig acquired 2,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $70.47 per share, for a total transaction of $140,940.00. Following the acquisition, the director now directly owns 20,630 shares of the company’s stock, valued at approximately $1,453,796.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.
CVS Health Profile
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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