Atlantic Union Bankshares Corp reduced its position in shares of CVS Health Corp (NYSE:CVS) by 26.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,485 shares of the pharmacy operator’s stock after selling 11,899 shares during the period. Atlantic Union Bankshares Corp’s holdings in CVS Health were worth $1,897,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Hoover Financial Advisors Inc. acquired a new position in shares of CVS Health during the 2nd quarter worth about $32,000. Exchange Traded Concepts LLC purchased a new stake in CVS Health in the second quarter valued at $41,000. Keebeck Wealth Management LLC purchased a new stake in shares of CVS Health in the 2nd quarter valued at about $42,000. Balentine LLC purchased a new position in CVS Health during the 1st quarter worth approximately $47,000. Finally, Campbell Wealth Management acquired a new position in CVS Health during the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.
CVS has been the topic of a number of research reports. Piper Sandler initiated coverage on shares of CVS Health in a research report on Thursday, September 17th. They set an “overweight” rating and a $72.00 target price on the stock. Credit Suisse Group raised their price objective on shares of CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $109.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. SVB Leerink raised their price target on CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of CVS Health in a research note on Thursday, July 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $81.94.
CVS stock traded up $0.27 on Friday, reaching $59.59. 6,822,607 shares of the company’s stock were exchanged, compared to its average volume of 8,692,488. The stock has a fifty day moving average of $59.23 and a 200-day moving average of $62.28. The firm has a market cap of $77.99 billion, a PE ratio of 9.47, a P/E/G ratio of 1.48 and a beta of 0.68. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. CVS Health Corp has a twelve month low of $52.04 and a twelve month high of $77.03.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.64 EPS for the quarter, topping the consensus estimate of $1.93 by $0.71. The company had revenue of $65.30 billion for the quarter, compared to analyst estimates of $64.29 billion. CVS Health had a net margin of 3.13% and a return on equity of 16.32%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. On average, equities research analysts predict that CVS Health Corp will post 7.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, October 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.36%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
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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