CVS Health Co. (NYSE:CVS) is Waters Parkerson & CO. LLC’s 9th Largest Position

Waters Parkerson & CO. LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVSGet Rating) by 0.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 411,735 shares of the pharmacy operator’s stock after selling 720 shares during the period. CVS Health accounts for about 2.6% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 9th biggest holding. Waters Parkerson & CO. LLC’s holdings in CVS Health were worth $39,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. SRS Capital Advisors Inc. raised its stake in shares of CVS Health by 105.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock worth $27,000 after buying an additional 146 shares during the last quarter. Karp Capital Management Corp purchased a new position in CVS Health during the 3rd quarter valued at about $30,000. Coston McIsaac & Partners acquired a new position in CVS Health during the second quarter worth about $34,000. Moisand Fitzgerald Tamayo LLC grew its position in shares of CVS Health by 63.6% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 368 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 143 shares during the last quarter. Finally, Providence First Trust Co purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 77.29% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS traded down $1.03 during midday trading on Wednesday, hitting $84.99. 4,504,024 shares of the company’s stock were exchanged, compared to its average volume of 10,227,651. CVS Health Co. has a twelve month low of $84.82 and a twelve month high of $111.25. The firm has a market cap of $111.67 billion, a P/E ratio of 36.60, a PEG ratio of 1.35 and a beta of 0.71. The stock’s 50 day moving average price is $95.33 and its 200-day moving average price is $96.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.94 and a quick ratio of 0.69.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The pharmacy operator reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.10. The company had revenue of $81.16 billion during the quarter, compared to the consensus estimate of $76.53 billion. CVS Health had a net margin of 1.00% and a return on equity of 15.56%. Equities research analysts anticipate that CVS Health Co. will post 8.63 EPS for the current year.

CVS Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 20th will be paid a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, January 19th. This is a positive change from CVS Health’s previous quarterly dividend of $0.55. CVS Health’s dividend payout ratio is currently 102.98%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada dropped their target price on CVS Health from $119.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 7th. Wells Fargo & Company lowered their target price on shares of CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a report on Tuesday, January 3rd. The Goldman Sachs Group decreased their price target on shares of CVS Health from $128.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. StockNews.com began coverage on CVS Health in a research report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Finally, Bank of America cut their price objective on CVS Health from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.13.

Insiders Place Their Bets

In other CVS Health news, EVP Thomas M. Moriarty sold 137,466 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $98.36, for a total transaction of $13,521,155.76. Following the completion of the sale, the executive vice president now owns 608,129 shares of the company’s stock, valued at $59,815,568.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

CVS Health Profile

(Get Rating)

CVS Health Corp. engages in the provision of healthcare 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 the sale of prescription drugs and an assortment of health and wellness products, and general merchandise.

Further Reading

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

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