City Holding Co. boosted its stake in shares of CVS Health Corp (NYSE:CVS) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,429 shares of the pharmacy operator’s stock after purchasing an additional 1,537 shares during the quarter. City Holding Co.’s holdings in CVS Health were worth $1,793,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Exane Derivatives raised its stake in CVS Health by 29.0% during the 3rd quarter. Exane Derivatives now owns 17,215 shares of the pharmacy operator’s stock valued at $1,086,000 after purchasing an additional 3,868 shares during the last quarter. Atalanta Sosnoff Capital LLC raised its stake in CVS Health by 236.1% during the 3rd quarter. Atalanta Sosnoff Capital LLC now owns 585,583 shares of the pharmacy operator’s stock valued at $36,933,000 after purchasing an additional 411,353 shares during the last quarter. Triangle Securities Wealth Management increased its holdings in CVS Health by 1.4% in the 3rd quarter. Triangle Securities Wealth Management now owns 26,431 shares of the pharmacy operator’s stock valued at $1,667,000 after buying an additional 363 shares during the period. Acropolis Investment Management LLC bought a new stake in CVS Health in the 3rd quarter valued at $324,000. Finally, Beacon Financial Group increased its holdings in CVS Health by 3.3% in the 3rd quarter. Beacon Financial Group now owns 177,904 shares of the pharmacy operator’s stock valued at $11,044,000 after buying an additional 5,708 shares during the period. Hedge funds and other institutional investors own 75.98% of the company’s stock.
Several brokerages have issued reports on CVS. Deutsche Bank began coverage on shares of CVS Health in a report on Thursday, September 12th. They issued a “buy” rating and a $91.00 price target on the stock. TheStreet raised shares of CVS Health from a “c+” rating to a “b-” rating in a report on Monday, September 9th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price target on shares of CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Cowen reissued an “outperform” rating and issued a $76.00 price target (up previously from $69.00) on shares of CVS Health in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $75.39.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. During the same quarter in the prior year, the firm earned $1.69 EPS. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. Equities analysts predict 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, October 23rd. CVS Health’s payout ratio is 28.25%.
In related news, EVP Joshua Matthew Flum sold 17,703 shares of the company’s stock in a transaction dated 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 owns 36,163 shares in the company, valued at approximately $2,278,269. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Eva C. Boratto sold 8,130 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $65.00, for a total transaction of $528,450.00. Following the transaction, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
CVS Health 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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