Alliancebernstein L.P. Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Alliancebernstein L.P. increased its position in shares of CVS Health Co. (NYSE:CVS) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,818,878 shares of the pharmacy operator’s stock after buying an additional 3,088 shares during the period. Alliancebernstein L.P. owned 0.14% of CVS Health worth $154,350,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVS. Penserra Capital Management LLC purchased a new stake in CVS Health during the second quarter worth $25,000. Albion Financial Group UT purchased a new stake in CVS Health during the second quarter worth $40,000. Tower View Investment Management & Research LLC purchased a new position in CVS Health during the third quarter valued at $42,000. Strategic Blueprint LLC purchased a new position in CVS Health during the second quarter valued at $46,000. Finally, Reilly Financial Advisors LLC lifted its holdings in CVS Health by 37.6% during the third quarter. Reilly Financial Advisors LLC now owns 564 shares of the pharmacy operator’s stock valued at $48,000 after purchasing an additional 154 shares in the last quarter. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on CVS shares. Raymond James increased their price objective on shares of CVS Health from $95.00 to $115.00 and gave the company a “strong-buy” rating in a report on Thursday, November 4th. Cowen increased their target price on shares of CVS Health from $103.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, December 10th. Royal Bank of Canada raised their price objective on shares of CVS Health from $107.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, December 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of CVS Health from $101.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, November 5th. Finally, Truist Securities raised their price objective on shares of CVS Health from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, January 5th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $112.04.

CVS stock opened at $106.22 on Friday. The company’s 50 day moving average is $97.88 and its two-hundred day moving average is $89.27. The stock has a market cap of $140.22 billion, a P/E ratio of 18.57, a PEG ratio of 1.65 and a beta of 0.86. CVS Health Co. has a twelve month low of $68.02 and a twelve month high of $107.26. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.76.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.18. The company had revenue of $73.79 billion for the quarter, compared to analysts’ expectations of $70.52 billion. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. CVS Health’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. On average, equities research analysts predict that CVS Health Co. will post 8.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Friday, January 21st will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, January 20th. This is a positive change from CVS Health’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 2.07%. CVS Health’s payout ratio is currently 34.97%.

In other news, COO Jonathan C. Roberts sold 108,870 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $95.00, for a total transaction of $10,342,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Troyen A. Brennan sold 82,757 shares of the stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $88.00, for a total transaction of $7,282,616.00. The disclosure for this sale can be found here. Insiders sold a total of 219,786 shares of company stock worth $20,159,576 over the last quarter. Insiders own 0.69% of the company’s stock.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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

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