CIBC Private Wealth Group LLC Sells 3,264 Shares of CVS Health Co. (NYSE:CVS)

CIBC Private Wealth Group LLC trimmed its holdings in CVS Health Co. (NYSE:CVSGet Rating) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,358 shares of the pharmacy operator’s stock after selling 3,264 shares during the period. CIBC Private Wealth Group LLC’s holdings in CVS Health were worth $21,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversified Trust Co raised its position in shares of CVS Health by 1.0% in the third quarter. Diversified Trust Co now owns 14,899 shares of the pharmacy operator’s stock valued at $1,421,000 after buying an additional 145 shares in the last quarter. Carnegie Capital Asset Management LLC raised its position in shares of CVS Health by 28.9% in the third quarter. Carnegie Capital Asset Management LLC now owns 55,867 shares of the pharmacy operator’s stock valued at $5,328,000 after buying an additional 12,527 shares in the last quarter. Bond & Devick Financial Network Inc. raised its position in shares of CVS Health by 1.9% in the third quarter. Bond & Devick Financial Network Inc. now owns 10,820 shares of the pharmacy operator’s stock valued at $1,032,000 after buying an additional 200 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of CVS Health by 1.3% in the second quarter. Royal London Asset Management Ltd. now owns 470,446 shares of the pharmacy operator’s stock valued at $43,601,000 after buying an additional 6,045 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in CVS Health by 107.8% during the third quarter. Ritholtz Wealth Management now owns 26,627 shares of the pharmacy operator’s stock valued at $2,539,000 after purchasing an additional 13,813 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS Health stock opened at $75.56 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.71. CVS Health Co. has a twelve month low of $74.79 and a twelve month high of $109.69. The stock has a market cap of $97.03 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.19 and a beta of 0.65. The company’s fifty day moving average is $86.37 and its 200 day moving average is $93.47.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings data on Wednesday, February 8th. The pharmacy operator reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.07. The company had revenue of $83.85 billion for the quarter, compared to analysts’ expectations of $76.37 billion. CVS Health had a net margin of 1.29% and a return on equity of 15.75%. CVS Health’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 8.84 EPS for the current year.

CVS Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Friday, January 20th were given a dividend of $0.605 per share. The ex-dividend date was Thursday, January 19th. This represents a $2.42 dividend on an annualized basis and a yield of 3.20%. This is a boost from CVS Health’s previous quarterly dividend of $0.55. CVS Health’s dividend payout ratio is 77.56%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Credit Suisse Group boosted their price objective on shares of CVS Health from $117.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 21st. StockNews.com downgraded shares of CVS Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 9th. Raymond James lowered their price objective on shares of CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, February 9th. Wells Fargo & Company lowered their price objective on shares of CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 3rd. Finally, Morgan Stanley boosted their target price on shares of CVS Health from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, January 13th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.65.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Thomas M. Moriarty sold 137,466 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $98.36, for a total transaction of $13,521,155.76. Following the sale, the executive vice president now owns 608,129 shares of the company’s stock, valued at $59,815,568.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

About CVS Health

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.

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

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