Buckley Wealth Management LLC Cuts Stock Position in CVS Health Corp (NYSE:CVS)

Buckley Wealth Management LLC lessened its stake in CVS Health Corp (NYSE:CVS) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 58,593 shares of the pharmacy operator’s stock after selling 1,297 shares during the quarter. CVS Health comprises approximately 1.8% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 17th biggest position. Buckley Wealth Management LLC’s holdings in CVS Health were worth $3,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. Executive Wealth Management LLC grew its holdings in shares of CVS Health by 62.4% during the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 217 shares in the last quarter. Manchester Financial Inc. purchased a new stake in shares of CVS Health during the second quarter worth $31,000. Hudock Capital Group LLC grew its holdings in shares of CVS Health by 54.0% during 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 in the last quarter. Tarbox Family Office Inc. grew its holdings in shares of CVS Health by 74.7% during the second quarter. Tarbox Family Office Inc. now owns 580 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 248 shares in the last quarter. Finally, Gradient Investments LLC grew its holdings in shares of CVS Health by 78.3% during the third quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 271 shares in the last quarter. 75.91% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on CVS shares. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada began coverage on shares of CVS Health in a report on Friday, September 27th. They set an “outperform” rating and a $85.00 target price for the company. Bank of America upped their price objective 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. Morgan Stanley upped their price objective on shares of CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Cowen reissued an “outperform” rating and issued a $76.00 price objective (up previously from $69.00) on shares of CVS Health in a report on Tuesday, August 27th. 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 assigned a strong buy rating to the company’s stock. CVS Health has an average rating of “Buy” and a consensus target price of $75.39.



In other news, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the sale, the chief financial officer now owns 55,273 shares of the company’s stock, valued at $3,592,745. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 36,163 shares in the company, valued at approximately $2,278,269. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

NYSE CVS traded up $0.80 during trading hours on Friday, reaching $62.94. The company had a trading volume of 6,278,726 shares, compared to its average volume of 6,237,457. The stock has a 50-day moving average of $62.12 and a 200 day moving average of $56.71. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $82.15. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $78.52 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.86.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The company had revenue of $63.43 billion for the quarter, compared to analysts’ expectations of $62.66 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. CVS Health’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health Corp will post 6.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 3.18%. CVS Health’s dividend payout ratio is presently 28.25%.

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.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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