Sontag Advisory LLC bought a new position in CVS Health Corp (NYSE:CVS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,223 shares of the pharmacy operator’s stock, valued at approximately $80,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brookmont Capital Management increased its position in shares of CVS Health by 3.0% during the 4th quarter. Brookmont Capital Management now owns 5,184 shares of the pharmacy operator’s stock valued at $340,000 after purchasing an additional 152 shares during the last quarter. Avestar Capital LLC increased its position in shares of CVS Health by 19.6% during the 4th quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock valued at $57,000 after purchasing an additional 156 shares during the last quarter. Clarus Wealth Advisors increased its position in shares of CVS Health by 6.9% during the 4th quarter. Clarus Wealth Advisors now owns 2,456 shares of the pharmacy operator’s stock valued at $161,000 after purchasing an additional 158 shares during the last quarter. Griffin Asset Management Inc. increased its position in shares of CVS Health by 1.4% during the 3rd quarter. Griffin Asset Management Inc. now owns 11,438 shares of the pharmacy operator’s stock valued at $900,000 after purchasing an additional 160 shares during the last quarter. Finally, Adviser Investments LLC increased its position in shares of CVS Health by 5.4% during the 4th quarter. Adviser Investments LLC now owns 3,163 shares of the pharmacy operator’s stock valued at $207,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.
Several equities analysts have recently commented on the company. CIBC reiterated a “market perform” rating on shares of CVS Health in a research report on Monday. SunTrust Banks reduced their price target on CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. BMO Capital Markets began coverage on CVS Health in a research report on Wednesday, April 10th. They set an “outperform” rating and a $58.00 price target on the stock. Barclays set a $73.00 price target on CVS Health and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Oppenheimer lowered CVS Health from an “outperform” rating to a “market perform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average target price of $79.61.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.07. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The business had revenue of $54.42 billion during the quarter, compared to analysts’ expectations of $53.78 billion. During the same quarter last year, the business posted $1.92 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that CVS Health Corp will post 6.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
In other news, COO Jonathan C. Roberts sold 77,639 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $64.54, for a total value of $5,010,821.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larry J. Merlo sold 166,368 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $64.51, for a total value of $10,732,399.68. The disclosure for this sale can be found here. In the last quarter, insiders acquired 23,600 shares of company stock valued at $1,270,896 and sold 245,671 shares valued at $15,839,966. Company insiders own 0.53% of the company’s stock.
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About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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