CVS Health Co. (NYSE:CVS) Stock Position Lifted by Parkside Investments LLC

Parkside Investments LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 13.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,475 shares of the pharmacy operator’s stock after purchasing an additional 15,106 shares during the quarter. CVS Health comprises about 1.6% of Parkside Investments LLC’s investment portfolio, making the stock its 25th largest holding. Parkside Investments LLC’s holdings in CVS Health were worth $8,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Quarterback LLC boosted its holdings in shares of CVS Health by 1.2% in the fourth quarter. Wealth Quarterback LLC now owns 10,015 shares of the pharmacy operator’s stock valued at $933,000 after acquiring an additional 119 shares in the last quarter. Forte Capital LLC ADV boosted its stake in CVS Health by 1.4% during the 4th quarter. Forte Capital LLC ADV now owns 8,743 shares of the pharmacy operator’s stock valued at $815,000 after purchasing an additional 119 shares in the last quarter. Weik Capital Management raised its stake in shares of CVS Health by 0.7% in the 1st quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after buying an additional 120 shares in the last quarter. FCA Corp TX lifted its holdings in shares of CVS Health by 0.6% in the first quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock valued at $2,035,000 after buying an additional 122 shares during the period. Finally, Arvest Trust Co. N A boosted its stake in CVS Health by 1.2% during the fourth quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock valued at $1,040,000 after buying an additional 131 shares in the last quarter. Institutional investors own 75.99% of the company’s stock.

Insiders Place Their Bets

In related news, SVP James David Clark sold 25,759 shares of CVS Health stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $74.92, for a total value of $1,929,864.28. Following the completion of the sale, the senior vice president now owns 4,698 shares of the company’s stock, valued at approximately $351,974.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

CVS Health Stock Up 1.1 %

Shares of CVS Health stock traded up $0.78 on Friday, hitting $70.73. 2,189,313 shares of the company traded hands, compared to its average volume of 9,090,115. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.84. CVS Health Co. has a 12-month low of $64.62 and a 12-month high of $104.83. The company has a 50-day moving average price of $70.78 and a 200 day moving average price of $72.04. The company has a market cap of $90.85 billion, a PE ratio of 30.69, a PEG ratio of 1.33 and a beta of 0.63.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.09. The company had revenue of $88.92 billion for the quarter, compared to analyst estimates of $86.41 billion. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 EPS. Sell-side analysts predict that CVS Health Co. will post 8.61 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 21st were paid a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health’s dividend payout ratio (DPR) is presently 106.14%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of CVS Health from $114.00 to $106.00 in a report on Friday, July 7th. Mizuho reduced their target price on shares of CVS Health from $120.00 to $88.00 in a report on Tuesday, July 11th. Morgan Stanley dropped their price target on CVS Health from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Barclays cut their target price on CVS Health from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Finally, Edward Jones downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

About CVS Health

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The 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.