Union Bankshares Corp Has $5.25 Million Stake in CVS Health Corporation (CVS)

Union Bankshares Corp increased its holdings in CVS Health Corporation (NYSE:CVS) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,251 shares of the pharmacy operator’s stock after acquiring an additional 1,761 shares during the period. CVS Health Corporation comprises approximately 1.8% of Union Bankshares Corp’s portfolio, making the stock its 10th biggest holding. Union Bankshares Corp’s holdings in CVS Health Corporation were worth $5,251,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Arvest Bank Trust Division grew its holdings in shares of CVS Health Corporation by 1.1% in the second quarter. Arvest Bank Trust Division now owns 194,371 shares of the pharmacy operator’s stock valued at $15,639,000 after acquiring an additional 2,124 shares in the last quarter. Bank of The West grew its holdings in shares of CVS Health Corporation by 3.3% in the second quarter. Bank of The West now owns 85,739 shares of the pharmacy operator’s stock valued at $6,899,000 after acquiring an additional 2,732 shares in the last quarter. NN Investment Partners Holdings N.V. grew its holdings in shares of CVS Health Corporation by 141.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock valued at $114,832,000 after acquiring an additional 835,476 shares in the last quarter. Stokes & Hubbell Capital Management LLC bought a new position in shares of CVS Health Corporation in the second quarter valued at approximately $2,492,000. Finally, Pennsylvania Trust Co grew its holdings in shares of CVS Health Corporation by 38.4% in the second quarter. Pennsylvania Trust Co now owns 173,995 shares of the pharmacy operator’s stock valued at $14,000,000 after acquiring an additional 48,265 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

CVS Health Corporation (CVS) traded up 0.09% during midday trading on Friday, hitting $79.63. The company’s stock had a trading volume of 6,534,109 shares. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $90.85. The company’s 50 day moving average price is $79.11 and its 200 day moving average price is $78.98. The firm has a market cap of $80.95 billion, a P/E ratio of 15.86 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 EPS. Analysts expect that CVS Health Corporation will post $5.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is presently 39.92%.

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Several equities analysts have recently issued reports on CVS shares. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. ValuEngine lowered CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $88.97 target price for the company in a report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $90.58.

In other news, EVP Helena Foulkes sold 20,333 shares of CVS Health Corporation stock in a transaction on Monday, June 26th. The shares were sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the transaction, the executive vice president now owns 59,301 shares in the company, valued at approximately $4,744,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the transaction, the director now owns 3,258 shares in the company, valued at approximately $259,401.96. The disclosure for this sale can be found here. Insiders have sold a total of 716,411 shares of company stock worth $58,277,271 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

CVS Health Corporation Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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

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