CCM Investment Advisers LLC Lowers Stake in CVS Health Corp (CVS)

CCM Investment Advisers LLC lowered its stake in CVS Health Corp (NYSE:CVS) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,385 shares of the pharmacy operator’s stock after selling 3,619 shares during the quarter. CCM Investment Advisers LLC’s holdings in CVS Health were worth $8,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CVS. Fieldpoint Private Securities LLC grew its stake in CVS Health by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in CVS Health by 119.6% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in CVS Health during the 2nd quarter valued at about $119,000. Gemmer Asset Management LLC grew its stake in CVS Health by 15.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after acquiring an additional 200 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in CVS Health during the 2nd quarter valued at about $155,000. 81.69% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Corp (NYSE:CVS) traded up $0.08 on Wednesday, reaching $79.52. The company had a trading volume of 322,341 shares, compared to its average volume of 10,360,000. CVS Health Corp has a 12-month low of $66.45 and a 12-month high of $84.72. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. The firm has a market cap of $80,550.00, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.25 and a beta of 0.90.

CVS Health (NYSE:CVS) last posted its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The firm had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. During the same period in the previous year, the company earned $1.64 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. research analysts expect that CVS Health Corp will post 5.89 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.52%. CVS Health’s dividend payout ratio (DPR) is currently 41.32%.

Several equities analysts have weighed in on the company. Vetr cut CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price on the stock. in a research note on Tuesday. Royal Bank of Canada started coverage on CVS Health in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price on the stock. ValuEngine lowered CVS Health from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Robert W. Baird reiterated a “hold” rating and set a $77.00 price target on shares of CVS Health in a report on Friday, October 27th. Finally, Mizuho set a $90.00 price target on CVS Health and gave the company a “buy” rating in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.63.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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

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