Perkins Coie Trust Co Trims Stake in CVS Health Corp (NYSE:CVS)

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Perkins Coie Trust Co lowered its stake in shares of CVS Health Corp (NYSE:CVS) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,535 shares of the pharmacy operator’s stock after selling 210 shares during the quarter. Perkins Coie Trust Co’s holdings in CVS Health were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Centaurus Financial Inc. increased its position in shares of CVS Health by 570.8% during the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,387 shares during the period. Manchester Financial Inc. purchased a new position in shares of CVS Health during the second quarter valued at about $31,000. Hudock Capital Group LLC increased its position in shares of CVS Health by 54.0% during the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 202 shares during the period. Executive Wealth Management LLC increased its position in shares of CVS Health by 62.4% during the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 217 shares during the period. Finally, Tarbox Family Office Inc. increased its position in shares of 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 buying an additional 248 shares during the period. Institutional investors own 75.91% of the company’s stock.

Shares of NYSE CVS traded up $1.22 during midday trading on Friday, hitting $63.36. The stock had a trading volume of 3,486,999 shares, compared to its average volume of 6,237,457. The business’s 50 day moving average is $62.12 and its 200-day moving average is $56.71. The company has a market cap of $78.52 billion, a P/E ratio of 8.95, a PEG ratio of 1.32 and a beta of 0.86. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.19. The firm had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 earnings per share. As a group, analysts expect that CVS Health Corp will post 6.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 3.16%. CVS Health’s dividend payout ratio is presently 28.25%.

In other news, CFO Eva C. Boratto sold 8,130 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the transaction, the chief financial officer now directly owns 55,273 shares of the company’s stock, valued at $3,592,745. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the transaction, the executive vice president now directly owns 36,163 shares of the company’s stock, valued at $2,278,269. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

CVS has been the topic of several research reports. TheStreet raised shares of CVS Health from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada initiated coverage on shares of CVS Health in a research note on Friday, September 27th. They set an “outperform” rating and a $85.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.39.

About CVS Health

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

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