Farmers & Merchants Trust Co of Chambersburg PA lessened its stake in CVS Health Corp (NYSE:CVS) by 3.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,178 shares of the pharmacy operator’s stock after selling 600 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in CVS Health were worth $1,146,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. increased its holdings in shares of CVS Health by 570.8% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 1,387 shares in the last quarter. Manchester Financial Inc. bought a new stake in shares of CVS Health in the second quarter worth about $31,000. Hudock Capital Group LLC increased its holdings in shares of CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 202 shares in the last quarter. Executive Wealth Management LLC increased its holdings in shares of CVS Health by 62.4% in the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 217 shares in the last quarter. Finally, Tarbox Family Office Inc. increased its holdings in shares of CVS Health by 74.7% in the second quarter. Tarbox Family Office Inc. now owns 580 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.
In other CVS Health news, CFO Eva C. Boratto sold 8,130 shares of the firm’s 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 transaction, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $63.00, for a total value of $1,115,289.00. Following the transaction, the executive vice president now 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 company insiders.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.19. The firm had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. Analysts predict that CVS Health Corp will post 6.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.06%. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
CVS has been the subject of several recent analyst reports. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Evercore ISI set a $63.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Bank of America upped their price objective on CVS Health from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada began coverage on CVS Health in a research report on Friday, September 27th. They set an “outperform” rating and a $85.00 price objective for the company. Two equities 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 issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $75.39.
CVS Health Company 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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