Investment Management of Virginia LLC Has $4.85 Million Holdings in CVS Health Corp (CVS)
Investment Management of Virginia LLC lowered its position in CVS Health Corp (NYSE:CVS) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,070 shares of the pharmacy operator’s stock after selling 5,000 shares during the period. CVS Health comprises approximately 1.3% of Investment Management of Virginia LLC’s investment portfolio, making the stock its 25th biggest position. Investment Management of Virginia LLC’s holdings in CVS Health were worth $4,853,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Bell Rock Capital LLC raised its position in shares of CVS Health by 764.0% during the 4th quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 382 shares during the last quarter. Daiwa SB Investments Ltd. acquired a new position in shares of CVS Health during the 4th quarter worth about $30,000. Acima Private Wealth LLC acquired a new position in shares of CVS Health during the 4th quarter worth about $33,000. Cornerstone Advisors Inc. raised its position in shares of CVS Health by 71.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after purchasing an additional 212 shares during the last quarter. Finally, Certified Advisory Corp raised its position in shares of CVS Health by 46.3% during the 4th quarter. Certified Advisory Corp now owns 638 shares of the pharmacy operator’s stock worth $42,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 84.55% of the company’s stock.
In other news, SVP James David Clark sold 1,664 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the sale, the senior vice president now owns 8,557 shares of the company’s stock, valued at approximately $497,503.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larry J. Merlo sold 166,368 shares of the stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $69.04, for a total transaction of $11,486,046.72. Following the completion of the sale, the insider now directly owns 496,577 shares of the company’s stock, valued at approximately $34,283,676.08. The disclosure for this sale can be found here. In the last three months, insiders bought 23,600 shares of company stock valued at $1,270,896 and sold 412,039 shares valued at $27,326,012. Corporate insiders own 0.53% of the company’s stock.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.07. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The company had revenue of $54.42 billion during the quarter, compared to analysts’ expectations of $53.78 billion. During the same quarter in the prior year, the company earned $1.92 EPS. CVS Health’s revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts forecast that CVS Health Corp will post 6.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 3.60%. CVS Health’s dividend payout ratio (DPR) is 28.25%.
Several research analysts recently weighed in on the stock. Barclays assumed coverage on shares of CVS Health in a research report on Tuesday, December 18th. They set an “overweight” rating and a $91.00 price target for the company. UBS Group reduced their price target on shares of CVS Health from $75.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, February 21st. Leerink Swann assumed coverage on shares of CVS Health in a research report on Tuesday, December 11th. They set an “outperform” rating for the company. Goldman Sachs Group restated a “neutral” rating and set a $87.00 price target on shares of CVS Health in a research report on Thursday, November 29th. Finally, Citigroup reduced their price target on shares of CVS Health from $94.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $84.18.
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CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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