D Orazio & Associates Inc. Raises Stake in CVS Health Co. (NYSE:CVS)

D Orazio & Associates Inc. grew its holdings in CVS Health Co. (NYSE:CVS) by 46.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 638 shares of the pharmacy operator’s stock after purchasing an additional 203 shares during the period. D Orazio & Associates Inc.’s holdings in CVS Health were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in CVS. Rafferty Asset Management LLC lifted its stake in shares of CVS Health by 4.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 27,252 shares of the pharmacy operator’s stock valued at $2,274,000 after purchasing an additional 1,113 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of CVS Health by 2.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,701,022 shares of the pharmacy operator’s stock valued at $141,934,000 after purchasing an additional 35,316 shares during the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of CVS Health in the 2nd quarter valued at $253,000. Brighton Jones LLC lifted its stake in CVS Health by 3.7% during the 2nd quarter. Brighton Jones LLC now owns 13,661 shares of the pharmacy operator’s stock worth $1,140,000 after acquiring an additional 490 shares in the last quarter. Finally, abrdn plc lifted its stake in CVS Health by 43.0% during the 2nd quarter. abrdn plc now owns 1,261,827 shares of the pharmacy operator’s stock worth $105,286,000 after acquiring an additional 379,203 shares in the last quarter. 75.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Jonathan C. Roberts sold 108,870 shares of the firm’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $95.00, for a total transaction of $10,342,650.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Troyen A. Brennan sold 28,159 shares of the stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $90.00, for a total value of $2,534,310.00. The disclosure for this sale can be found here. Insiders have sold a total of 219,786 shares of company stock worth $20,159,576 in the last 90 days. 0.69% of the stock is currently owned by company insiders.

Shares of CVS traded up $0.16 during mid-day trading on Friday, reaching $105.50. The company’s stock had a trading volume of 96,167 shares, compared to its average volume of 5,138,394. CVS Health Co. has a 12-month low of $68.02 and a 12-month high of $107.26. The stock has a market cap of $139.27 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.67. The company’s 50 day moving average is $97.63 and its 200 day moving average is $89.11.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 3rd. The pharmacy operator reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.18. The business had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $70.52 billion. CVS Health had a return on equity of 14.16% and a net margin of 2.66%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Friday, January 21st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, January 20th. This is an increase from CVS Health’s previous quarterly dividend of $0.50. CVS Health’s dividend payout ratio (DPR) is currently 34.97%.

Several research firms recently issued reports on CVS. Robert W. Baird increased their target price on CVS Health from $107.00 to $110.00 in a research note on Wednesday. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Monday. Barclays increased their target price on CVS Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Mizuho increased their target price on CVS Health from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 20th. Finally, Raymond James increased their target price on CVS Health from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 4th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $112.04.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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

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