The ING Groep NV Raises Stake in CVS Health Corporation (CVS)

The ING Groep NV Raises Stake in CVS Health Corporation (CVS)

ING Groep NV raised its stake in CVS Health Corporation (NYSE:CVS) by 22.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,240 shares of the pharmacy operator’s stock after buying an additional 4,711 shares during the period. ING Groep NV’s holdings in CVS Health Corporation were worth $2,416,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MU Investments Co. Ltd. increased its stake in shares of CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock valued at $109,000 after buying an additional 440 shares during the period. Springbok Capital Management LLC increased its stake in shares of CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock valued at $117,000 after buying an additional 741 shares during the period. Arcadia Investment Management Corp MI increased its stake in shares of CVS Health Corporation by 87.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,605 shares of the pharmacy operator’s stock valued at $154,000 after buying an additional 750 shares during the period. Physicians Financial Services Inc. increased its stake in shares of CVS Health Corporation by 5.8% in the second quarter. Physicians Financial Services Inc. now owns 1,849 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 101 shares during the period. Finally, Highland Private Wealth Management acquired a new stake in shares of CVS Health Corporation during the first quarter valued at $198,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

CVS Health Corporation (NYSE:CVS) traded up 1.24% during trading on Wednesday, hitting $87.47. 6,952,362 shares of the company traded hands. The firm has a 50 day moving average of $90.79 and a 200 day moving average of $96.67. The firm has a market cap of $93.26 billion, a P/E ratio of 20.12 and a beta of 0.83. CVS Health Corporation has a one year low of $85.41 and a one year high of $106.67.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The business had revenue of $43.70 billion for the quarter, compared to analyst estimates of $44.28 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, analysts expect that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.94%. CVS Health Corporation’s dividend payout ratio is currently 39.08%.

A number of equities research analysts recently commented on the stock. Deutsche Bank AG raised their price objective on shares of CVS Health Corporation from $99.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, June 22nd. Argus restated a “buy” rating and issued a $120.00 price objective on shares of CVS Health Corporation in a research report on Thursday, August 4th. Leerink Swann restated a “buy” rating on shares of CVS Health Corporation in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Mizuho raised their price objective on shares of CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. CVS Health Corporation has a consensus rating of “Buy” and a consensus target price of $112.40.

CVS Health Corporation Company Profile

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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