Westbourne Investment Advisors Inc. Acquires 735 Shares of CVS Health Corp (NYSE:CVS)

Westbourne Investment Advisors Inc. grew its holdings in shares of CVS Health Corp (NYSE:CVS) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,191 shares of the pharmacy operator’s stock after purchasing an additional 735 shares during the period. CVS Health accounts for 2.7% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 10th biggest position. Westbourne Investment Advisors Inc.’s holdings in CVS Health were worth $3,607,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVS. Baldwin Brothers Inc. MA increased its stake in CVS Health by 1.1% during the 3rd quarter. Baldwin Brothers Inc. MA now owns 14,911 shares of the pharmacy operator’s stock valued at $941,000 after buying an additional 165 shares during the period. Mutual Advisors LLC boosted its position in shares of CVS Health by 0.8% during the 2nd quarter. Mutual Advisors LLC now owns 20,641 shares of the pharmacy operator’s stock valued at $1,125,000 after purchasing an additional 172 shares in the last quarter. Fiduciary Group LLC boosted its position in shares of CVS Health by 3.2% during the 2nd quarter. Fiduciary Group LLC now owns 6,485 shares of the pharmacy operator’s stock valued at $353,000 after purchasing an additional 200 shares in the last quarter. Legacy Advisors LLC boosted its position in shares of CVS Health by 2.5% during the 3rd quarter. Legacy Advisors LLC now owns 8,048 shares of the pharmacy operator’s stock valued at $508,000 after purchasing an additional 200 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in shares of CVS Health by 1.5% during the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,255 shares of the pharmacy operator’s stock valued at $824,000 after purchasing an additional 201 shares in the last quarter. 76.12% of the stock is currently owned by institutional investors.

Shares of CVS traded up $0.92 during midday trading on Tuesday, hitting $66.62. The stock had a trading volume of 2,176,638 shares, compared to its average volume of 6,243,850. CVS Health Corp has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The business has a 50-day simple moving average of $63.06 and a two-hundred day simple moving average of $57.29. The firm has a market cap of $86.04 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 1.44 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 (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 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 analysts’ expectations of $62.66 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period last year, the company posted $1.69 earnings per share. On average, analysts expect that CVS Health Corp will post 6.97 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 28.25%.

Several equities analysts have recently weighed in on the stock. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Citigroup raised their price objective on shares of CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Deutsche Bank assumed coverage on shares of CVS Health in a research report on Thursday, September 12th. They set a “buy” rating and a $91.00 price objective for the company. Bank of America raised their price objective on shares of CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada assumed coverage on shares of CVS Health in a research report on Friday, September 27th. They set an “outperform” rating and a $85.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $75.39.

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 value of $528,450.00. Following the completion of the sale, the chief financial officer now directly owns 55,273 shares of the company’s stock, valued at $3,592,745. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the completion of the sale, the executive vice president now directly owns 36,163 shares of the company’s stock, valued at $2,278,269. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

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

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