Rockland Trust Co. grew its holdings in CVS Health Corp (NYSE:CVS) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,908 shares of the pharmacy operator’s stock after purchasing an additional 8,198 shares during the period. CVS Health comprises about 1.5% of Rockland Trust Co.’s investment portfolio, making the stock its 17th biggest holding. Rockland Trust Co.’s holdings in CVS Health were worth $16,647,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the business. Executive Wealth Management LLC grew its holdings in shares of CVS Health by 62.4% in the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 217 shares during the period. Manchester Financial Inc. bought a new stake in shares of CVS Health in the second quarter worth $31,000. Hudock Capital Group LLC grew its holdings in shares of CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 202 shares during the period. Tarbox Family Office Inc. lifted its position in CVS Health by 74.7% during the second quarter. Tarbox Family Office Inc. now owns 580 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 248 shares in the last quarter. Finally, Gradient Investments LLC lifted its position in CVS Health by 78.3% during the third quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 271 shares in the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Eva C. Boratto sold 8,130 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the transaction, the chief financial officer now directly owns 55,273 shares in the company, valued at $3,592,745. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $63.00, for a total value of $1,115,289.00. Following the completion of the transaction, the executive vice president now owns 36,163 shares in the company, valued at $2,278,269. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.
Shares of CVS Health stock traded up $1.42 during trading hours on Friday, hitting $63.56. The company’s stock had a trading volume of 1,977,169 shares, compared to its average volume of 6,237,457. The business has a 50 day moving average price of $62.12 and a two-hundred day moving average price of $56.71. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $82.15. The company has a market cap of $78.52 billion, a PE ratio of 8.98, a PEG ratio of 1.32 and a beta of 0.86. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.19. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The business had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. During the same period in the previous year, the business earned $1.69 earnings per share. The business’s revenue was up 35.2% on a year-over-year basis. As a group, research analysts anticipate that CVS Health Corp will post 6.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 3.15%. CVS Health’s payout ratio is 28.25%.
CVS has been the topic of several analyst reports. Morgan Stanley lifted their target price on CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Deutsche Bank initiated coverage on CVS Health in a research report on Thursday, September 12th. They set a “buy” rating and a $91.00 target price on the stock. Bank of America lifted their target price on CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Evercore ISI set a $63.00 target price on CVS Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Cowen reiterated an “outperform” rating and set a $76.00 target price (up from $69.00) on shares of CVS Health in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $75.39.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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