Sumitomo Mitsui Trust Holdings Inc. Lowers Stake in CVS Health Corp (CVS)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of CVS Health Corp (NYSE:CVS) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,891,644 shares of the pharmacy operator’s stock after selling 47,878 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of CVS Health worth $235,148,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Horan Capital Advisors LLC. raised its position in shares of CVS Health by 3.2% during the 2nd quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after buying an additional 1,000 shares in the last quarter. Community Bank N.A. raised its position in shares of CVS Health by 7.3% during the 2nd quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after buying an additional 1,362 shares in the last quarter. FIL Ltd raised its position in shares of CVS Health by 13.8% during the 2nd quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock valued at $41,424,000 after buying an additional 62,318 shares in the last quarter. Midwest Investment Management LLC raised its position in shares of CVS Health by 6.2% during the 2nd quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after buying an additional 1,245 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its position in shares of CVS Health by 3.7% during the 2nd quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock valued at $4,478,000 after buying an additional 1,979 shares in the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.

Several analysts have recently weighed in on the stock. Loop Capital lowered their price objective on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating on the stock in a research report on Tuesday, November 7th. Morgan Stanley upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective on the stock in a research report on Friday, January 5th. Needham & Company LLC raised their price objective on shares of CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. SunTrust Banks lifted their target price on shares of CVS Health to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. Finally, Jefferies Group decreased their target price on shares of CVS Health from $86.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $87.25.

In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

CVS Health Corp (CVS) opened at $79.35 on Friday. The company has a market cap of $80,380.00, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.25 and a beta of 0.90. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. analysts forecast that CVS Health Corp will post 5.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.

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CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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