Alhambra Investment Partners LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS – Get Rating) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,689 shares of the pharmacy operator's stock after purchasing an additional 449 shares during the period. CVS Health accounts for about 1.1% of Alhambra Investment Partners LLC's portfolio, making the stock its 24th largest holding. Alhambra Investment Partners LLC's holdings in CVS Health were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of CVS Health by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 111,865,662 shares of the pharmacy operator's stock valued at $11,321,923,000 after buying an additional 2,628,740 shares during the period. State Street Corp raised its position in shares of CVS Health by 4.3% during the 1st quarter. State Street Corp now owns 59,261,304 shares of the pharmacy operator's stock valued at $5,997,837,000 after buying an additional 2,450,990 shares during the period. Capital World Investors raised its position in shares of CVS Health by 17.0% during the 1st quarter. Capital World Investors now owns 58,633,421 shares of the pharmacy operator's stock valued at $5,934,465,000 after buying an additional 8,531,311 shares during the period. Capital International Investors raised its position in shares of CVS Health by 1.1% during the 1st quarter. Capital International Investors now owns 28,139,498 shares of the pharmacy operator's stock valued at $2,848,157,000 after buying an additional 318,021 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of CVS Health by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 16,028,628 shares of the pharmacy operator's stock valued at $1,622,257,000 after buying an additional 1,385,322 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.
Get CVS Health alerts:Insider Transactions at CVS Health
In other news, EVP Alan Lotvin sold 22,541 shares of CVS Health stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $104.00, for a total value of $2,344,264.00. Following the completion of the sale, the executive vice president now owns 109,183 shares of the company's stock, valued at $11,355,032. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other CVS Health news, EVP Thomas M. Moriarty sold 138,654 shares of the business's stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the sale, the executive vice president now owns 626,273 shares of the company's stock, valued at $59,495,935. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alan Lotvin sold 22,541 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 109,183 shares of the company's stock, valued at approximately $11,355,032. The disclosure for this sale can be found here. Insiders own 0.69% of the company's stock.
CVS Health Stock Performance
NYSE CVS traded down $1.48 during trading hours on Friday, hitting $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 debt-to-equity ratio of 0.67, a quick ratio of 0.65 and a current ratio of 0.91. CVS Health Co. has a 1-year low of $81.78 and a 1-year high of $111.25. The company has a market cap of $129.12 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The business has a 50 day moving average of $100.20 and a 200-day moving average of $99.25.CVS Health (NYSE:CVS – Get Rating) last announced its earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.24. The business had revenue of $80.64 billion during the quarter, compared to the consensus estimate of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 earnings per share. As a group, equities research analysts expect that CVS Health Co. will post 8.53 EPS for the current year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 21st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.24%. CVS Health's dividend payout ratio (DPR) is 35.77%.
Analyst Ratings Changes
CVS has been the topic of several analyst reports. UBS Group lifted their price target on shares of CVS Health from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Mizuho boosted their target price on CVS Health from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, August 15th. Credit Suisse Group boosted their target price on CVS Health from $113.00 to $117.00 and gave the company an "outperform" rating in a research report on Monday, August 8th. Loop Capital started coverage on CVS Health in a research report on Thursday, June 16th. They issued a "buy" rating and a $120.00 target price on the stock. Finally, Tigress Financial boosted their target price on CVS Health from $125.00 to $130.00 in a research report on Wednesday, August 17th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $117.59.
CVS Health Company Profile
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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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