Watch Point Trust Co raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 8.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,826 shares of the pharmacy operator’s stock after buying an additional 4,954 shares during the period. CVS Health comprises approximately 2.1% of Watch Point Trust Co’s portfolio, making the stock its 19th largest position. Watch Point Trust Co’s holdings in CVS Health were worth $3,900,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. 1 North Wealth Services LLC bought a new position in shares of CVS Health during the third quarter valued at about $29,000. Centaurus Financial Inc. raised its stake in CVS Health by 570.8% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 1,387 shares in the last quarter. Manchester Financial Inc. bought a new position in CVS Health in the second quarter worth about $31,000. Hudock Capital Group LLC raised its stake in CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 202 shares in the last quarter. Finally, Executive Wealth Management LLC raised its stake in CVS Health by 62.4% in the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 76.17% of the company’s stock.
In other news, CFO Eva C. Boratto sold 8,130 shares of the 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 sale, the chief financial officer now owns 55,273 shares in the company, valued at $3,592,745. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction that occurred on 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 owns 107,921 shares in the company, valued at approximately $7,338,628. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,437 shares of company stock worth $3,248,811. Corporate insiders own 0.53% of the company’s stock.
CVS traded up $0.69 during midday trading on Friday, reaching $72.47. The company’s stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. The firm has a market capitalization of $87.55 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $82.15. The stock’s 50-day moving average is $64.66 and its 200-day moving average is $58.54.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. As a group, equities research analysts forecast that CVS Health Corp will post 6.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS has been the subject of a number of research reports. Deutsche Bank initiated coverage on shares of CVS Health in a research note on Thursday, September 12th. They issued a “buy” rating and a $91.00 price target for the company. Raymond James increased their price target on shares of CVS Health from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Royal Bank of Canada initiated coverage on shares of CVS Health in a research note on Friday, September 27th. They issued an “outperform” rating and a $85.00 price target for the company. Mizuho increased their price target on shares of CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday. Finally, TheStreet raised shares of CVS Health from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $77.59.
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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