Insider Selling: Larry Merlo Sells 228,875 Shares of CVS Caremark Corp. Stock (CVS)
CVS Caremark Corp. (NYSE:CVS) CEO Larry Merlo sold 228,875 shares of CVS Caremark Corp. stock on the open market in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $70.76, for a total transaction of $16,195,195.00. Following the completion of the sale, the chief executive officer now directly owns 408,649 shares in the company, valued at approximately $28,916,003. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of CVS Caremark Corp. (NYSE:CVS) traded up 0.21% during mid-day trading on Friday, hitting $70.55. 3,885,814 shares of the company’s stock traded hands. CVS Caremark Corp. has a 1-year low of $49.44 and a 1-year high of $71.99. The stock has a 50-day moving average of $67.83 and a 200-day moving average of $61.6. The company has a market cap of $84.942 billion and a P/E ratio of 19.62.
CVS Caremark Corp. (NYSE:CVS) last released its earnings data on Tuesday, November 5th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $0.85 earnings per share. CVS Caremark Corp.’s revenue was up 5.8% compared to the same quarter last year. 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. Stockholders 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 boost 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 investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target 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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