Atlantic Union Bankshares Corp grew its holdings in shares of CVS Health Co. (NYSE:CVS – Free Report) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,304 shares of the pharmacy operator’s stock after purchasing an additional 4,120 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in CVS Health were worth $6,727,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Quarterback LLC boosted its position in shares of CVS Health by 1.2% during the 4th 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 position in shares of 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 acquiring an additional 119 shares in the last quarter. Weik Capital Management boosted its position in shares of CVS Health by 0.7% during the 1st quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock valued at $1,781,000 after acquiring an additional 120 shares in the last quarter. FCA Corp TX boosted its position in shares of CVS Health by 0.6% during the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock valued at $2,035,000 after acquiring an additional 122 shares in the last quarter. Finally, Arvest Trust Co. N A boosted its position in shares of CVS Health by 1.2% during the 4th quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock valued at $1,040,000 after acquiring an additional 131 shares in the last quarter. Institutional investors own 75.99% of the company’s stock.
Wall Street Analyst Weigh In
CVS has been the topic of several recent research reports. Truist Financial decreased their target price on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Piper Sandler cut their price target on shares of CVS Health from $85.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, September 1st. 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 cut their price target on shares of CVS Health from $120.00 to $88.00 in a report on Tuesday, July 11th. Finally, Morgan Stanley cut their price target on shares of CVS Health from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.
CVS Health Stock Down 0.3 %
Shares of NYSE:CVS opened at $70.66 on Monday. CVS Health Co. has a one year low of $64.62 and a one year high of $104.83. The company has a 50 day moving average of $70.83 and a 200-day moving average of $71.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.86 and a quick ratio of 0.64. The stock has a market cap of $90.76 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 1.33 and a beta of 0.63.
CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 EPS for the quarter, topping the consensus estimate of $2.12 by $0.09. CVS Health had a net margin of 0.86% and a return on equity of 15.43%. The company had revenue of $88.92 billion during the quarter, compared to analysts’ expectations of $86.41 billion. During the same quarter in the previous year, the company earned $2.40 EPS. CVS Health’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Co. will post 8.61 earnings per share for the current year.
CVS Health Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 21st were given a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health’s dividend payout ratio is 106.14%.
Insider Transactions at CVS Health
In related news, SVP James David Clark sold 25,759 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $74.92, for a total transaction of $1,929,864.28. Following the completion of the transaction, the senior vice president now owns 4,698 shares in the company, valued at $351,974.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.
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.
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