MCF Advisors LLC increased its stake in CVS Health Corp (NYSE:CVS) by 284.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,713 shares of the pharmacy operator’s stock after acquiring an additional 1,267 shares during the period. MCF Advisors LLC’s holdings in CVS Health were worth $135,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in CVS. Camarda Financial Advisors LLC purchased a new stake in CVS Health during the second quarter valued at about $102,000. Kiley Juergens Wealth Management LLC purchased a new stake in CVS Health during the second quarter valued at about $103,000. Legacy Advisors LLC boosted its position in CVS Health by 7,100.0% during the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after buying an additional 1,775 shares during the period. Squar Milner Financial Services LLC purchased a new stake in CVS Health during the second quarter valued at about $122,000. Finally, Canton Hathaway LLC purchased a new stake in CVS Health during the third quarter valued at about $126,000. Institutional investors own 82.56% of the company’s stock.
In other news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,722,720.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the sale, the executive vice president now owns 12,135 shares in the company, valued at approximately $910,125. The disclosure for this sale can be found here. Insiders have sold 43,409 shares of company stock valued at $3,392,097 in the last ninety days. Insiders own 0.53% of the company’s stock.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business had revenue of $46.71 billion during the quarter, compared to the consensus estimate of $46.34 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that CVS Health Corp will post 7.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, October 23rd. CVS Health’s dividend payout ratio is 33.90%.
Several analysts have issued reports on CVS shares. Bank of America upped their price target on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Mizuho restated a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 28th. Royal Bank of Canada restated a “buy” rating and set a $90.00 price target on shares of CVS Health in a research report on Wednesday, August 8th. Finally, Tigress Financial restated a “buy” rating on shares of CVS Health in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. CVS Health currently has an average rating of “Buy” and an average target price of $86.18.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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