Norway Savings Bank Increases Stake in CVS Health Co. (NYSE:CVS)

Norway Savings Bank lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,120 shares of the pharmacy operator’s stock after buying an additional 644 shares during the quarter. CVS Health comprises 1.1% of Norway Savings Bank’s portfolio, making the stock its 24th largest position. Norway Savings Bank’s holdings in CVS Health were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Hoylecohen LLC purchased a new stake in CVS Health in the first quarter worth about $944,000. Virtu Financial LLC grew its holdings in CVS Health by 4.8% in the first quarter. Virtu Financial LLC now owns 9,788 shares of the pharmacy operator’s stock worth $736,000 after purchasing an additional 452 shares during the period. Gladstone Institutional Advisory LLC purchased a new stake in CVS Health in the first quarter worth about $377,000. Axiom Investment Management LLC purchased a new stake in CVS Health in the first quarter worth about $368,000. Finally, Childress Capital Advisors LLC grew its holdings in CVS Health by 57.8% in the first quarter. Childress Capital Advisors LLC now owns 6,728 shares of the pharmacy operator’s stock worth $506,000 after purchasing an additional 2,464 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.

Several research analysts have recently issued reports on CVS shares. Truist upped their target price on shares of CVS Health from $94.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, November 4th. Barclays upped their target price on shares of CVS Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Royal Bank of Canada upped their target price on shares of CVS Health from $97.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of CVS Health from $101.00 to $107.00 and gave the stock a “buy” rating in a research note on Friday, November 5th. Finally, Raymond James upped their target price on shares of CVS Health from $95.00 to $115.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 4th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $104.11.

CVS opened at $92.65 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.76. CVS Health Co. has a 1-year low of $67.06 and a 1-year high of $96.57. The company has a market capitalization of $122.30 billion, a PE ratio of 16.20, a PEG ratio of 1.74 and a beta of 0.81. The firm’s 50 day simple moving average is $88.26 and its two-hundred day simple moving average is $85.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.18. The firm had revenue of $73.79 billion during the quarter, compared to analysts’ expectations of $70.52 billion. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. Equities analysts forecast that CVS Health Co. will post 7.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Friday, October 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, October 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.16%. CVS Health’s dividend payout ratio (DPR) is presently 34.97%.

In related news, EVP Troyen A. Brennan sold 2,625 shares of the firm’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $87.00, for a total transaction of $228,375.00. Following the completion of the transaction, the executive vice president now directly owns 140,201 shares of the company’s stock, valued at $12,197,487. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Troyen A. Brennan sold 28,159 shares of the firm’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $90.00, for a total transaction of $2,534,310.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,411 shares of company stock valued at $20,387,951. Corporate insiders own 0.69% of the company’s stock.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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

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