Watch Point Trust Co lifted its stake in shares of CVS Health Corp (NYSE:CVS) by 26.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,872 shares of the pharmacy operator’s stock after purchasing an additional 11,945 shares during the period. Watch Point Trust Co’s holdings in CVS Health were worth $3,099,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Executive Wealth Management LLC grew its holdings in shares of CVS Health by 62.4% during the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 217 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of CVS Health by 42.9% during the second quarter. Stephens Inc. AR now owns 142,640 shares of the pharmacy operator’s stock valued at $7,772,000 after buying an additional 42,800 shares in the last quarter. White Pine Investment CO purchased a new position in shares of CVS Health during the second quarter valued at $4,105,000. Hayden Royal LLC purchased a new position in shares of CVS Health during the second quarter valued at $270,000. Finally, Sandy Spring Bank grew its holdings in shares of CVS Health by 7.7% during the second quarter. Sandy Spring Bank now owns 114,945 shares of the pharmacy operator’s stock valued at $6,263,000 after buying an additional 8,199 shares in the last quarter. 77.18% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on CVS. Mizuho set a $71.00 price target on CVS Health and gave the company a “buy” rating in a report on Wednesday, June 5th. Guggenheim began coverage on CVS Health in a report on Thursday, April 18th. They set a “buy” rating and a $75.00 price target on the stock. UBS Group lowered their price target on CVS Health from $74.00 to $67.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley reiterated a “buy” rating and set a $74.00 price target on shares of CVS Health in a report on Sunday. Finally, Evercore ISI set a $63.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $75.14.
Shares of CVS traded down $0.35 during trading hours on Thursday, hitting $58.21. 4,480,852 shares of the company were exchanged, compared to its average volume of 8,160,261. The company has a market capitalization of $76.38 billion, a P/E ratio of 8.22, a PEG ratio of 1.29 and a beta of 0.90. The company’s 50 day simple moving average is $56.23. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.19. The company had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 EPS. On average, equities analysts expect that CVS Health Corp will post 6.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.44%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
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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