Tompkins Financial Corp cut its holdings in shares of CVS Health Corp (NYSE:CVS) by 15.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,080 shares of the pharmacy operator’s stock after selling 373 shares during the period. Tompkins Financial Corp’s holdings in CVS Health were worth $135,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CVS. Morgan Stanley boosted its position in CVS Health by 19.4% during the 1st quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock worth $1,224,919,000 after acquiring an additional 3,352,364 shares during the period. Veritas Asset Management LLP increased its stake in CVS Health by 32.1% during the 1st quarter. Veritas Asset Management LLP now owns 10,235,658 shares of the pharmacy operator’s stock valued at $607,282,000 after buying an additional 2,487,300 shares during the period. Deutsche Bank AG lifted its stake in shares of CVS Health by 42.9% in the 1st quarter. Deutsche Bank AG now owns 6,464,874 shares of the pharmacy operator’s stock worth $383,562,000 after acquiring an additional 1,942,249 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of CVS Health by 26.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,574,491 shares of the pharmacy operator’s stock valued at $449,395,000 after acquiring an additional 1,592,484 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of CVS Health by 12.5% during the first quarter. Capital World Investors now owns 12,343,789 shares of the pharmacy operator’s stock valued at $732,357,000 after acquiring an additional 1,369,061 shares during the period. 76.04% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health stock opened at $62.94 on Friday. The stock has a market capitalization of $83.65 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 1.42 and a beta of 0.76. The firm’s 50-day moving average price is $63.99 and its two-hundred day moving average price is $64.46. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 1.29. CVS Health Corp has a 1-year low of $52.04 and a 1-year high of $77.03.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.18%. CVS Health’s dividend payout ratio is 28.25%.
A number of equities analysts have issued reports on CVS shares. Credit Suisse Group raised CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Thursday, May 14th. They noted that the move was a valuation call. JPMorgan Chase & Co. dropped their price target on shares of CVS Health from $97.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Oppenheimer reissued a “hold” rating on shares of CVS Health in a report on Wednesday, May 6th. Citigroup cut their target price on shares of CVS Health from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $80.35.
In other news, EVP Alan Lotvin bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $63.14 per share, with a total value of $315,700.00. Following the purchase, the executive vice president now owns 15,161 shares of the company’s stock, valued at $957,265.54. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.
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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