Commonwealth Equity Services Inc lessened its position in CVS Health Corp (NYSE:CVS) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,816 shares of the pharmacy operator’s stock after selling 26,644 shares during the period. Commonwealth Equity Services Inc’s holdings in CVS Health were worth $27,471,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Family Legacy Inc. boosted its holdings in shares of CVS Health by 1.5% during the 2nd quarter. Family Legacy Inc. now owns 6,633 shares of the pharmacy operator’s stock worth $534,000 after buying an additional 100 shares during the period. Bank of Montreal Can boosted its holdings in shares of CVS Health by 7.6% during the 2nd quarter. Bank of Montreal Can now owns 5,315,830 shares of the pharmacy operator’s stock worth $427,711,000 after buying an additional 376,688 shares during the period. First Financial Bank Trust Division boosted its holdings in shares of CVS Health by 2.0% during the 2nd quarter. First Financial Bank Trust Division now owns 6,625 shares of the pharmacy operator’s stock worth $533,000 after buying an additional 133 shares during the period. Narwhal Capital Management boosted its holdings in shares of CVS Health by 96.9% during the 2nd quarter. Narwhal Capital Management now owns 32,070 shares of the pharmacy operator’s stock worth $2,580,000 after buying an additional 15,780 shares during the period. Finally, Pennsylvania Trust Co boosted its holdings in shares of CVS Health by 38.4% during the 2nd quarter. Pennsylvania Trust Co now owns 173,995 shares of the pharmacy operator’s stock worth $14,000,000 after buying an additional 48,265 shares during the period. 81.69% of the stock is owned by institutional investors.
Several analysts recently commented on the stock. Vetr downgraded shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price for the company. in a report on Tuesday. Cowen reissued an “outperform” rating and issued a $99.00 price objective (up previously from $81.00) on shares of CVS Health in a report on Thursday. ValuEngine downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. SunTrust Banks boosted their price objective on shares of CVS Health to $90.00 and gave the company a “buy” rating in a report on Friday, January 5th. Finally, Morgan Stanley raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective for the company in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $87.25.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by insiders.
CVS Health Corp (NYSE CVS) opened at $79.86 on Friday. The company has a market cap of $80,900.00, a P/E ratio of 16.50, a PEG ratio of 1.25 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. CVS Health Corp has a 12-month low of $66.45 and a 12-month high of $84.00.
CVS Health (NYSE:CVS) last issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. sell-side analysts predict that CVS Health Corp will post 5.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s payout ratio 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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