Whittier Trust Co. of Nevada Inc. trimmed its position in shares of CVS Health Corp (NYSE:CVS) by 9.5% during the 2nd quarter, Holdings Channel reports. The fund owned 47,991 shares of the pharmacy operator’s stock after selling 5,014 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in CVS Health were worth $2,615,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CVS. FMR LLC raised its holdings in CVS Health by 30.6% during the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock valued at $2,572,528,000 after buying an additional 9,194,005 shares during the period. Geode Capital Management LLC raised its holdings in CVS Health by 36.2% during the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after buying an additional 4,376,604 shares during the period. Dimensional Fund Advisors LP raised its holdings in CVS Health by 28.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock valued at $903,574,000 after buying an additional 3,041,266 shares during the period. Norges Bank purchased a new stake in CVS Health during the 4th quarter valued at $840,254,000. Finally, Nordea Investment Management AB raised its holdings in CVS Health by 2.8% during the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock valued at $670,172,000 after buying an additional 340,315 shares during the period. 77.28% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on CVS shares. Barclays set a $73.00 price target on CVS Health and gave the company a “buy” rating in a report on Thursday, April 11th. Raymond James decreased their price target on CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 18th. Bank of America restated a “buy” rating and set a $74.00 price target (down previously from $82.00) on shares of CVS Health in a report on Wednesday, April 10th. Morgan Stanley decreased their price target on CVS Health from $92.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Guggenheim started coverage on CVS Health in a report on Thursday, April 18th. They set a “buy” rating and a $75.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. CVS Health presently has an average rating of “Buy” and a consensus target price of $76.48.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.12. The company had revenue of $61.65 billion for the quarter, compared to the consensus estimate of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. CVS Health’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 EPS. Analysts expect that CVS Health Corp will post 6.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, July 25th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.59%. The ex-dividend date was Wednesday, July 24th. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS Health Profile
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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