Coastline Trust Co boosted its holdings in CVS Health Corp (NYSE:CVS) by 9.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,658 shares of the pharmacy operator’s stock after purchasing an additional 2,964 shares during the quarter. Coastline Trust Co’s holdings in CVS Health were worth $2,186,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Centaurus Financial Inc. lifted its stake in CVS Health by 570.8% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,387 shares during the last quarter. Manchester Financial Inc. purchased a new stake in shares of CVS Health during the second quarter worth approximately $31,000. Hudock Capital Group LLC raised its stake 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 purchasing an additional 202 shares during the last quarter. Executive Wealth Management LLC raised its stake 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 purchasing an additional 217 shares during the last quarter. Finally, Tarbox Family Office Inc. raised its stake 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 purchasing an additional 248 shares during the last quarter. 76.12% of the stock is owned by hedge funds and other institutional investors.
CVS opened at $66.16 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. The firm has a market cap of $86.48 billion, a P/E ratio of 9.34, a PEG ratio of 1.45 and a beta of 0.86. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15. The business’s fifty day simple moving average is $62.74 and its 200 day simple moving average is $57.10.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, 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 3.02%. The ex-dividend date is Wednesday, October 23rd. CVS Health’s payout ratio is currently 28.25%.
In related news, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction 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 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 owned by company insiders.
Several research firms have recently commented on CVS. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. 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 price target for the company. Cowen restated an “outperform” rating and set a $76.00 price target (up previously from $69.00) on shares of CVS Health in a research note on Tuesday, August 27th. Morgan Stanley upped their price target on CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Citigroup upped their price target on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. CVS Health has an average rating of “Buy” and a consensus price target of $75.39.
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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