SeaBridge Investment Advisors LLC Increases Stake in CVS Health Co. (NYSE:CVS)

SeaBridge Investment Advisors LLC lifted its position in CVS Health Co. (NYSE:CVS) by 44.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,745 shares of the pharmacy operator’s stock after purchasing an additional 6,980 shares during the period. SeaBridge Investment Advisors LLC’s holdings in CVS Health were worth $1,898,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MV Capital Management Inc. raised its stake in shares of CVS Health by 96.1% during the second quarter. MV Capital Management Inc. now owns 400 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 196 shares during the last quarter. D Orazio & Associates Inc. bought a new position in CVS Health during the 2nd quarter valued at approximately $36,000. Smith Asset Management Group LP bought a new stake in shares of CVS Health in the 2nd quarter worth approximately $38,000. Solstein Capital LLC purchased a new position in shares of CVS Health during the first quarter valued at approximately $35,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of CVS Health during the second quarter valued at approximately $48,000. Institutional investors own 75.94% of the company’s stock.

Shares of CVS Health stock traded up $1.45 during trading hours on Wednesday, reaching $85.34. The company’s stock had a trading volume of 226,153 shares, compared to its average volume of 6,445,591. The firm has a 50 day moving average price of $83.62 and a 200-day moving average price of $81.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.67. The stock has a market cap of $112.61 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.68 and a beta of 0.83. CVS Health Co. has a one year low of $55.36 and a one year high of $90.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 3rd. The pharmacy operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.35. The business had revenue of $72.62 billion for the quarter, compared to the consensus estimate of $70.27 billion. CVS Health had a return on equity of 13.81% and a net margin of 2.59%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.62 earnings per share. As a group, sell-side analysts forecast that CVS Health Co. will post 7.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 22nd. This represents a $2.00 annualized dividend and a yield of 2.34%. CVS Health’s payout ratio is 26.67%.

In related news, Director Edward J. Ludwig purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, August 5th. The stock was purchased at an average price of $79.55 per share, with a total value of $238,650.00. Following the completion of the purchase, the director now owns 17,334 shares of the company’s stock, valued at approximately $1,378,919.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Troyen A. Brennan sold 2,625 shares of the business’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $87.00, for a total transaction of $228,375.00. Following the transaction, the executive vice president now owns 140,201 shares of the company’s stock, valued at approximately $12,197,487. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

Several brokerages have commented on CVS. Morgan Stanley upped their price objective on shares of CVS Health from $99.00 to $114.00 and gave the stock an “overweight” rating in a report on Tuesday, August 31st. Wells Fargo & Company assumed coverage on shares of CVS Health in a report on Monday, May 24th. They issued an “equal weight” rating and a $89.00 price objective for the company. BMO Capital Markets increased their target price on CVS Health from $90.00 to $96.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 19th. Tigress Financial restated a “buy” rating and set a $108.00 price target on shares of CVS Health in a research report on Friday, July 23rd. Finally, Wolfe Research increased their price objective on CVS Health from $82.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 19th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Buy” and a consensus target price of $94.89.

CVS Health Company Profile

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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