TRUE Private Wealth Advisors trimmed its position in CVS Health Corp (NYSE:CVS) by 22.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,299 shares of the pharmacy operator’s stock after selling 1,564 shares during the period. TRUE Private Wealth Advisors’ holdings in CVS Health were worth $417,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Camarda Financial Advisors LLC acquired a new stake in shares of CVS Health in the second quarter valued at approximately $102,000. Kiley Juergens Wealth Management LLC acquired a new stake in shares of CVS Health in the second quarter valued at approximately $103,000. Legacy Advisors LLC raised its holdings in shares of CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after purchasing an additional 1,775 shares during the last quarter. Squar Milner Financial Services LLC acquired a new stake in shares of CVS Health in the second quarter valued at approximately $122,000. Finally, Canton Hathaway LLC acquired a new stake in shares of CVS Health in the third quarter valued at approximately $126,000. Institutional investors and hedge funds own 82.88% of the company’s stock.
In related news, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,135 shares of the company’s stock, valued at $910,125. The disclosure for this sale can be found here. Insiders sold 43,409 shares of company stock valued at $3,392,097 over the last three months. 0.53% of the stock is owned by company insiders.
NYSE:CVS opened at $74.18 on Friday. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $83.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87. The firm has a market capitalization of $75.88 billion, a P/E ratio of 11.31, a PEG ratio of 0.99 and a beta of 1.02.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. During the same period last year, the business earned $1.33 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Corp will post 7.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.70%. CVS Health’s dividend payout ratio is presently 33.90%.
A number of research firms have recently issued reports on CVS. ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Royal Bank of Canada lifted their price objective on shares of CVS Health to $101.00 and gave the company an “outperform” rating in a report on Tuesday, September 18th. Bank of America lifted their price objective on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. Leerink Swann set a $80.00 price objective on shares of CVS Health and gave the company an “outperform” rating in a report on Thursday, August 9th. Finally, Citigroup reiterated a “buy” rating and issued a $81.00 price objective on shares of CVS Health in a report on Monday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.31.
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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