The Manufacturers Life Insurance Company Grows Position in CVS Health Co. (NYSE:CVS)

The Manufacturers Life Insurance Company boosted its stake in shares of CVS Health Co. (NYSE:CVSGet Rating) by 0.0% during the 1st quarter, Holdings Channel reports. The firm owned 1,016,372 shares of the pharmacy operator’s stock after acquiring an additional 224 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CVS Health were worth $102,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Macroview Investment Management LLC boosted its holdings in shares of CVS Health by 128.3% in the 1st quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator’s stock valued at $25,000 after acquiring an additional 136 shares during the last quarter. Claremont Financial Group Inc. purchased a new stake in shares of CVS Health in the 4th quarter valued at $26,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of CVS Health by 123.0% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 171 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of CVS Health in the 4th quarter valued at $41,000. Finally, Carl Stuart Investment Advisor Inc. purchased a new stake in shares of CVS Health in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent research reports. UBS Group upped their price objective on shares of CVS Health from $118.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Tigress Financial boosted their target price on shares of CVS Health from $125.00 to $130.00 in a research note on Wednesday, August 17th. Mizuho upped their price objective on shares of CVS Health from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Credit Suisse Group upped their price objective on shares of CVS Health from $113.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Finally, Sanford C. Bernstein cut shares of CVS Health from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $122.00 to $112.00 in a research report on Thursday, May 26th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.59.

Insider Buying and Selling at CVS Health

In other news, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the completion of the transaction, the executive vice president now owns 109,183 shares in the company, valued at approximately $11,355,032. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Thomas M. Moriarty sold 138,654 shares of CVS Health stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the sale, the executive vice president now directly owns 626,273 shares in the company, valued at $59,495,935. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alan Lotvin sold 22,541 shares of CVS Health stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the sale, the executive vice president now owns 109,183 shares of the company’s stock, valued at $11,355,032. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

CVS Health Stock Up 1.2 %

Shares of NYSE:CVS opened at $102.31 on Friday. The firm’s 50 day moving average price is $99.27 and its 200 day moving average price is $99.40. The stock has a market cap of $134.32 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.73. CVS Health Co. has a fifty-two week low of $81.78 and a fifty-two week high of $111.25. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67.

CVS Health (NYSE:CVSGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. The company had revenue of $80.64 billion for the quarter, compared to analysts’ expectations of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $2.42 earnings per share. As a group, equities research analysts predict that CVS Health Co. will post 8.53 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 22nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $2.20 annualized dividend and a yield of 2.15%. CVS Health’s dividend payout ratio is currently 35.77%.

CVS Health Profile

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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

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