CVS Caremark Corp. CFO Sells $994,967 in Stock (CVS)
CVS Caremark Corp. (NYSE:CVS) CFO David Denton sold 14,113 shares of the company’s stock on the open market in a transaction dated Friday, January 3rd. The stock was sold at an average price of $70.50, for a total value of $994,966.50. Following the completion of the sale, the chief financial officer now directly owns 85,869 shares of the company’s stock, valued at approximately $6,053,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
CVS Caremark Corp. (NYSE:CVS) traded up 0.21% on Friday, hitting $70.55. 3,885,814 shares of the company’s stock traded hands. CVS Caremark Corp. has a 52-week low of $49.44 and a 52-week high of $71.99. The stock has a 50-day moving average of $67.99 and a 200-day moving average of $61.76. The company has a market cap of $84.942 billion and a P/E ratio of 19.62.
CVS Caremark Corp. (NYSE:CVS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.02 by $0.03. The company had revenue of $32.00 billion for the quarter, compared to the consensus estimate of $31.53 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that CVS Caremark Corp. will post $3.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a dividend of 0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, January 21st. This is a positive change from CVS Caremark Corp.’s previous quarterly dividend of $0.23.
A number of analysts have recently weighed in on CVS shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of CVS Caremark Corp. in a research note to investors on Friday, December 20th. They now have a $76.00 price target on the stock, up previously from $71.00. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of CVS Caremark Corp. to $82.00 in a research note to investors on Thursday, December 19th. They now have an “overweight” rating on the stock. Finally, analysts at Argus raised their price target on shares of CVS Caremark Corp. from $70.00 to $77.00 in a research note to investors on Thursday, December 19th. They now have a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. CVS Caremark Corp. has a consensus rating of “Buy” and a consensus target price of $73.00.
CVS Caremark Corporation (NYSE:CVS), together with its subsidiaries, is a pharmacy health care provider in the United States.
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