CVS Health Corp (NYSE:CVS) Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. reduced its holdings in CVS Health Corp (NYSE:CVS) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,950 shares of the pharmacy operator’s stock after selling 450 shares during the quarter. CVS Health makes up 2.9% of Garland Capital Management Inc.’s portfolio, making the stock its 22nd biggest holding. Garland Capital Management Inc.’s holdings in CVS Health were worth $4,033,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mutual Advisors LLC increased its stake in CVS Health by 0.8% during the second quarter. Mutual Advisors LLC now owns 20,641 shares of the pharmacy operator’s stock worth $1,125,000 after acquiring an additional 172 shares during the last quarter. Fiduciary Group LLC boosted its position in shares of CVS Health by 3.2% in the second quarter. Fiduciary Group LLC now owns 6,485 shares of the pharmacy operator’s stock worth $353,000 after buying an additional 200 shares during the period. Legacy Advisors LLC boosted its position in shares of CVS Health by 2.5% in the third quarter. Legacy Advisors LLC now owns 8,048 shares of the pharmacy operator’s stock worth $508,000 after buying an additional 200 shares during the period. First Command Financial Services Inc. boosted its position in shares of CVS Health by 16.0% in the second quarter. First Command Financial Services Inc. now owns 1,464 shares of the pharmacy operator’s stock worth $80,000 after buying an additional 202 shares during the period. Finally, Hudock Capital Group LLC boosted its position in shares of CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 202 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

CVS traded up $1.34 on Thursday, reaching $62.14. The company’s stock had a trading volume of 347,145 shares, compared to its average volume of 6,401,102. The stock has a market cap of $80.62 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 1.35 and a beta of 0.86. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $82.15. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. The business’s 50 day moving average is $62.11 and its 200 day moving average is $56.68.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.19. The firm 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%. CVS Health’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. As a group, research analysts forecast that CVS Health Corp will post 6.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Wednesday, October 23rd. CVS Health’s dividend payout ratio is currently 28.25%.

In other CVS Health news, 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 transaction, the executive vice president now owns 36,163 shares of the company’s stock, valued at approximately $2,278,269. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the transaction, the chief financial officer now directly owns 55,273 shares in the company, valued at approximately $3,592,745. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

CVS has been the subject of several analyst reports. Evercore ISI set a $63.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Deutsche Bank initiated coverage on CVS Health in a research report on Thursday, September 12th. They issued a “buy” rating and a $91.00 target price for the company. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Citigroup upped their target price on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada initiated coverage on CVS Health in a research report on Friday, September 27th. They issued an “outperform” rating and a $85.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $75.39.

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

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