Blue Chip Wealth Management Inc. Has $255,000 Holdings in CVS Health Corp (NYSE:CVS)

Blue Chip Wealth Management Inc. decreased its holdings in shares of CVS Health Corp (NYSE:CVS) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,038 shares of the pharmacy operator’s stock after selling 190 shares during the quarter. Blue Chip Wealth Management Inc.’s holdings in CVS Health were worth $255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVS. Nuveen Asset Management LLC raised its stake in CVS Health by 16,194.7% during the second quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock worth $659,986,000 after acquiring an additional 12,037,713 shares in the last quarter. Morgan Stanley raised its stake in CVS Health by 12.8% during the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after acquiring an additional 1,560,142 shares in the last quarter. Macquarie Group Ltd. raised its stake in CVS Health by 10.9% during the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after acquiring an additional 1,372,275 shares in the last quarter. Prudential PLC raised its stake in CVS Health by 54.8% during the second quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock worth $203,137,000 after acquiring an additional 1,323,366 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in CVS Health by 1.2% during the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock worth $5,578,027,000 after acquiring an additional 1,167,143 shares in the last quarter. 75.98% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Eva C. Boratto sold 8,130 shares of the company’s 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 sale, the chief financial officer now directly owns 55,273 shares in the company, valued at $3,592,745. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $63.00, for a total value of $1,115,289.00. Following the completion of the sale, the executive vice president now owns 36,163 shares in the company, valued at $2,278,269. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Several brokerages have commented on CVS. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Evercore ISI set a $63.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley boosted their target price on CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada began coverage on CVS Health in a research note on Friday, September 27th. They set an “outperform” rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $75.39.

NYSE:CVS opened at $66.16 on Friday. The stock has a market cap of $86.48 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. 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’s 50-day moving average is $62.74 and its 200-day moving average is $57.10. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $82.15.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 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.

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

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