Mitchell Mcleod Pugh & Williams Inc. cut its position in shares of CVS Health Corp (NYSE:CVS) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,981 shares of the pharmacy operator’s stock after selling 161 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in CVS Health were worth $593,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. 1 North Wealth Services LLC bought a new position in CVS Health in the third quarter valued at approximately $29,000. Gradient Investments LLC grew its stake in CVS Health by 78.3% in the third quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 271 shares in the last quarter. Cordasco Financial Network bought a new position in CVS Health in the third quarter valued at approximately $44,000. Stonebridge Capital Advisors LLC bought a new position in CVS Health in the second quarter valued at approximately $63,000. Finally, Sound Income Strategies LLC grew its stake in CVS Health by 24.3% in the fourth quarter. Sound Income Strategies LLC now owns 860 shares of the pharmacy operator’s stock valued at $64,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 76.65% of the company’s stock.
In related news, EVP Troyen A. Brennan sold 23,604 shares of CVS Health stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the completion of the sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at approximately $7,338,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Karen S. Lynch sold 80,143 shares of CVS Health stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $75.00, for a total value of $6,010,725.00. Following the sale, the executive vice president now directly owns 41,831 shares of the company’s stock, valued at $3,137,325. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion during the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The firm’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period last year, the firm posted $1.73 EPS. On average, analysts predict that CVS Health Corp will post 7.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $2.00 annualized dividend and a yield of 2.75%. CVS Health’s payout ratio is currently 28.25%.
CVS has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on CVS Health from $88.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. SunTrust Banks raised their price target on CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada initiated coverage on CVS Health in a research note on Friday, September 27th. They issued an “outperform” rating and a $85.00 price target for the company. Citigroup raised their price target on CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. They noted that the move was a valuation call. Finally, Bank of America raised their price objective on CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. CVS Health has a consensus rating of “Buy” and a consensus price target of $77.43.
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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