Mastrapasqua Asset Management Inc. cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,394 shares of the pharmacy operator’s stock after selling 3,062 shares during the period. CVS Health Corporation accounts for about 2.1% of Mastrapasqua Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Mastrapasqua Asset Management Inc.’s holdings in CVS Health Corporation were worth $8,667,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in CVS. Quantitative Systematic Strategies LLC acquired a new stake in CVS Health Corporation during the second quarter valued at about $218,000. Cypress Capital Management LLC WY acquired a new stake in CVS Health Corporation during the second quarter valued at about $164,000. Tealwood Asset Management Inc. boosted its stake in CVS Health Corporation by 1.4% in the second quarter. Tealwood Asset Management Inc. now owns 14,164 shares of the pharmacy operator’s stock valued at $1,356,000 after buying an additional 194 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in CVS Health Corporation by 7,248.4% in the second quarter. Riggs Asset Managment Co. Inc. now owns 47,324 shares of the pharmacy operator’s stock valued at $4,531,000 after buying an additional 46,680 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in CVS Health Corporation by 2.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 53,597 shares of the pharmacy operator’s stock valued at $5,131,000 after buying an additional 1,252 shares during the period. 81.39% of the stock is owned by hedge funds and other institutional investors.
Shares of CVS Health Corporation (NYSE:CVS) opened at 78.53 on Friday. The company has a market capitalization of $83.75 billion, a price-to-earnings ratio of 16.83 and a beta of 0.85. CVS Health Corporation has a one year low of $69.30 and a one year high of $106.67. The company has a 50-day moving average price of $79.81 and a 200 day moving average price of $85.14.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Thursday, February 9th. The pharmacy operator reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.04. The firm earned $46 billion during the quarter, compared to analysts’ expectations of $46.56 billion. CVS Health Corporation had a net margin of 3.00% and a return on equity of 17.55%. CVS Health Corporation’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. On average, analysts forecast that CVS Health Corporation will post $5.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 2nd. Investors of record on Tuesday, January 24th were issued a $0.50 dividend. The ex-dividend date was Friday, January 20th. This is a boost from CVS Health Corporation’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 2.55%. CVS Health Corporation’s dividend payout ratio is currently 40.65%.
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Several equities research analysts have recently issued reports on the company. Oppenheimer Holdings, Inc. set a $88.00 price objective on CVS Health Corporation and gave the stock a “buy” rating in a report on Sunday, December 18th. Vetr cut CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $86.51 price objective on the stock. in a report on Thursday, December 8th. Leerink Swann restated a “buy” rating and set a $105.00 price objective on shares of CVS Health Corporation in a report on Wednesday, November 9th. Argus restated a “buy” rating and set a $85.00 price objective (down previously from $120.00) on shares of CVS Health Corporation in a report on Thursday, November 10th. Finally, Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of CVS Health Corporation in a report on Wednesday, December 28th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $96.55.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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