Villere ST Denis J & Co. LLC boosted its holdings in shares of CVS Health Co. (NYSE:CVS – Get Rating) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 257,792 shares of the pharmacy operator's stock after purchasing an additional 6,155 shares during the period. CVS Health accounts for approximately 1.8% of Villere ST Denis J & Co. LLC's investment portfolio, making the stock its 23rd biggest holding. Villere ST Denis J & Co. LLC's holdings in CVS Health were worth $23,887,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVS. Macroview Investment Management LLC grew its stake in shares of CVS Health by 128.3% in the 1st quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator's stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. Claremont Financial Group Inc. acquired a new stake in shares of CVS Health during the fourth quarter worth $26,000. Stuart Chaussee & Associates Inc. grew its position in CVS Health by 123.0% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator's stock valued at $31,000 after buying an additional 171 shares during the last quarter. Rise Advisors LLC acquired a new position in CVS Health in the 4th quarter valued at $41,000. Finally, Carl Stuart Investment Advisor Inc. purchased a new position in CVS Health during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 77.64% of the company's stock.
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Wall Street Analyst Weigh In
CVS has been the topic of a number of recent analyst reports. Credit Suisse Group boosted their price target on shares of CVS Health from $113.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, August 8th. Evercore ISI increased their target price on CVS Health from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 7th. Deutsche Bank Aktiengesellschaft lifted their price target on CVS Health from $113.00 to $120.00 in a research note on Thursday, August 4th. Tigress Financial increased their price objective on CVS Health from $125.00 to $130.00 in a research report on Wednesday, August 17th. Finally, Mizuho boosted their target price on shares of CVS Health from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, August 15th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $117.59.
CVS Health Price Performance
Shares of NYSE CVS traded down $1.48 during trading on Friday, reaching $98.35. The company had a trading volume of 4,647,029 shares, compared to its average volume of 4,427,529. The company has a current ratio of 0.91, a quick ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $129.12 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.50 and a beta of 0.73. CVS Health Co. has a twelve month low of $81.78 and a twelve month high of $111.25. The stock has a 50-day moving average price of $100.20 and a two-hundred day moving average price of $99.22.
CVS Health (NYSE:CVS – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.24. The company had revenue of $80.64 billion for the quarter, compared to analysts' expectations of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 8.53 earnings per share for the current year.
CVS Health Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 21st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health's dividend payout ratio is presently 35.77%.
Insider Transactions at CVS Health
In other CVS Health news, EVP Thomas M. Moriarty sold 138,654 shares of CVS Health stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total value of $13,172,130.00. Following the completion of the sale, the executive vice president now owns 626,273 shares in the company, valued at approximately $59,495,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other CVS Health news, EVP Alan Lotvin sold 22,541 shares of CVS Health stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares in the company, valued at approximately $11,355,032. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas M. Moriarty sold 138,654 shares of the company's stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total value of $13,172,130.00. Following the sale, the executive vice president now owns 626,273 shares of the company's stock, valued at $59,495,935. The disclosure for this sale can be found here. Insiders own 0.69% of the company's stock.
About CVS Health
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CVS Health Corporation provides health services in the United States. The company's 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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