Lincoln Capital Corp boosted its stake in shares of CVS Health Corp (NYSE:CVS) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,927 shares of the pharmacy operator’s stock after purchasing an additional 7,079 shares during the period. CVS Health makes up approximately 4.4% of Lincoln Capital Corp’s portfolio, making the stock its 8th biggest holding. Lincoln Capital Corp’s holdings in CVS Health were worth $5,167,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of CVS. Benjamin F. Edwards & Company Inc. grew its holdings in CVS Health by 22.9% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 51,822 shares of the pharmacy operator’s stock valued at $3,268,000 after purchasing an additional 9,659 shares in the last quarter. Hayek Kallen Investment Management grew its holdings in CVS Health by 8.2% during the 3rd quarter. Hayek Kallen Investment Management now owns 21,489 shares of the pharmacy operator’s stock valued at $1,355,000 after purchasing an additional 1,630 shares in the last quarter. Whitnell & Co. grew its holdings in CVS Health by 8.8% during the 3rd quarter. Whitnell & Co. now owns 56,091 shares of the pharmacy operator’s stock valued at $3,538,000 after purchasing an additional 4,546 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in CVS Health by 13.3% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 36,342 shares of the pharmacy operator’s stock valued at $2,292,000 after purchasing an additional 4,254 shares in the last quarter. Finally, Principle Wealth Partners LLC acquired a new stake in CVS Health during the 3rd quarter valued at $1,393,000. 76.17% of the stock is currently owned by institutional investors.
In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the sale, the executive vice president now directly owns 107,921 shares in the company, valued at approximately $7,338,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $528,450.00. Following the sale, the chief financial officer now owns 55,273 shares in the company, valued at $3,592,745. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,437 shares of company stock worth $3,248,811. 0.53% of the stock is currently owned by insiders.
Several brokerages have weighed in on CVS. Cowen set a $76.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Monday, October 21st. UBS Group reissued a “buy” rating and set a $78.00 price objective on shares of CVS Health in a report on Thursday. Royal Bank of Canada began coverage on shares of CVS Health in a report on Friday, September 27th. They set an “outperform” rating and a $85.00 price objective for the company. TheStreet raised shares of CVS Health from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Finally, Wells Fargo & Co raised their price objective on shares of CVS Health from $62.00 to $72.00 and gave the stock a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. CVS Health currently has an average rating of “Buy” and an average target price of $77.59.
Shares of NYSE CVS traded up $0.69 during midday trading on Friday, hitting $72.47. The company’s stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $82.15. The firm’s fifty day moving average price is $64.66 and its 200-day moving average price is $58.54. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. The firm has a market cap of $87.55 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.46 and a beta of 0.86.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The firm had revenue of $64.81 billion for the quarter, compared to the consensus estimate of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. CVS Health’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same period last year, the firm posted $1.73 EPS. As a group, research analysts predict that CVS Health Corp will post 6.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were given a $0.50 dividend. The ex-dividend date was Wednesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.76%. CVS Health’s dividend payout ratio is presently 28.25%.
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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