Independence Bank of Kentucky Buys New Stake in CVS Health (CVS)

Independence Bank of Kentucky bought a new position in shares of CVS Health (NYSE:CVS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,975 shares of the pharmacy operator’s stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Glovista Investments LLC raised its position in CVS Health by 1.7% during the second quarter. Glovista Investments LLC now owns 6,149 shares of the pharmacy operator’s stock worth $495,000 after acquiring an additional 100 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC raised its position in CVS Health by 0.5% during the second quarter. Bontempo Ohly Capital Mgmt LLC now owns 21,830 shares of the pharmacy operator’s stock worth $1,756,000 after acquiring an additional 109 shares during the last quarter. ELCO Management Co. LLC raised its position in CVS Health by 1.4% during the second quarter. ELCO Management Co. LLC now owns 15,900 shares of the pharmacy operator’s stock worth $1,279,000 after acquiring an additional 215 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its position in CVS Health by 2.1% during the second quarter. Nicholas Hoffman & Company LLC. now owns 14,372 shares of the pharmacy operator’s stock worth $1,156,000 after acquiring an additional 295 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in CVS Health by 3.7% during the second quarter. Cetera Investment Advisers now owns 8,615 shares of the pharmacy operator’s stock worth $692,000 after acquiring an additional 309 shares during the last quarter. Institutional investors own 83.97% of the company’s stock.

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CVS Health stock opened at $63.38 on Friday. CVS Health has a 1 year low of $60.14 and a 1 year high of $84.00. The company has a market capitalization of $65,599.64, a P/E ratio of 10.74, a P/E/G ratio of 1.07 and a beta of 1.05. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The company had revenue of $48.39 billion during the quarter, compared to the consensus estimate of $47.54 billion. During the same period in the previous year, the firm earned $1.71 earnings per share. CVS Health’s revenue for the quarter was up 5.3% on a year-over-year basis. research analysts predict that CVS Health will post 6.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.16%. CVS Health’s dividend payout ratio is currently 33.90%.

In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the completion of the sale, the executive vice president now directly owns 65,072 shares in the company, valued at $4,622,714.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.

A number of research firms have recently weighed in on CVS. ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Vetr lowered shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price objective for the company. in a research report on Thursday, January 4th. 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 research report on Friday, January 5th. SunTrust Banks boosted their price objective on shares of CVS Health to $90.00 and gave the company a “buy” rating in a research report on Friday, January 5th. Finally, Robert W. Baird cut their price objective on shares of CVS Health from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $86.81.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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

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