Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in shares of CVS Health Corp (NYSE:CVS) by 1.5% in the 3rd quarter, Holdings Channel reports. The firm owned 13,255 shares of the pharmacy operator’s stock after buying an additional 201 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in CVS Health were worth $824,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. Nordea Investment Management AB increased its stake in CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after buying an additional 340,315 shares during the period. Haverford Trust Co. grew its holdings in CVS Health by 3.0% during the 2nd quarter. Haverford Trust Co. now owns 1,578,669 shares of the pharmacy operator’s stock worth $86,022,000 after acquiring an additional 46,182 shares in the last quarter. Mathes Company Inc. grew its holdings in CVS Health by 61.0% during the 1st quarter. Mathes Company Inc. now owns 14,250 shares of the pharmacy operator’s stock worth $769,000 after acquiring an additional 5,400 shares in the last quarter. First Heartland Consultants Inc. grew its holdings in CVS Health by 1.9% during the 2nd quarter. First Heartland Consultants Inc. now owns 29,437 shares of the pharmacy operator’s stock worth $1,604,000 after acquiring an additional 543 shares in the last quarter. Finally, Berkeley Capital Partners LLC grew its holdings in CVS Health by 8.1% during the 2nd quarter. Berkeley Capital Partners LLC now owns 18,337 shares of the pharmacy operator’s stock worth $999,000 after acquiring an additional 1,380 shares in the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on CVS shares. Evercore ISI set a $63.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, August 7th. Citigroup increased their target price on shares of CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada started coverage on shares of CVS Health in a report on Friday, September 27th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, Bank of America raised their price target on shares of CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $75.39.
CVS stock traded up $1.13 during trading on Friday, reaching $63.27. The company had a trading volume of 220,770 shares, compared to its average volume of 6,237,457. The firm has a 50-day simple moving average of $62.12 and a 200-day simple moving average of $56.71. The company has a market cap of $78.52 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.32 and a beta of 0.86. 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 Corp has a twelve month low of $51.72 and a twelve month high of $82.15.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping analysts’ consensus estimates 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%. CVS Health’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period last year, the business earned $1.69 EPS. Sell-side analysts expect that CVS Health Corp will post 6.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
In related news, CFO Eva C. Boratto sold 8,130 shares of CVS Health 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 in the company, valued at approximately $3,592,745. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of CVS Health 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 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 company 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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