Fiduciary Trust Co. Increases Holdings in CVS Health Corporation (NYSE:CVS)

Fiduciary Trust Co. lifted its stake in CVS Health Corporation (NYSE:CVS) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,007 shares of the pharmacy operator’s stock after buying an additional 4,265 shares during the period. CVS Health Corporation makes up approximately 0.9% of Fiduciary Trust Co.’s investment portfolio, making the stock its 25th biggest position. Fiduciary Trust Co.’s holdings in CVS Health Corporation were worth $28,732,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Keel Point LLC raised its position in CVS Health Corporation by 0.7% during the first quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock valued at $259,000 after purchasing an additional 22 shares in the last quarter. Proffitt & Goodson Inc. raised its position in CVS Health Corporation by 0.4% during the first quarter. Proffitt & Goodson Inc. now owns 15,782 shares of the pharmacy operator’s stock valued at $1,239,000 after purchasing an additional 65 shares in the last quarter. Oxbow Advisors LLC raised its position in CVS Health Corporation by 0.8% during the first quarter. Oxbow Advisors LLC now owns 12,090 shares of the pharmacy operator’s stock valued at $949,000 after purchasing an additional 90 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its position in CVS Health Corporation by 0.6% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,122 shares of the pharmacy operator’s stock valued at $1,266,000 after purchasing an additional 90 shares in the last quarter. Finally, Cue Financial Group Inc. raised its position in CVS Health Corporation by 3.6% during the first quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock valued at $213,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

CVS has been the subject of several research analyst reports. Cowen and Company reiterated an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a report on Tuesday, June 13th. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. lowered their price target on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Royal Bank Of Canada initiated coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target for the company. Finally, Wolfe Research downgraded shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $89.00 to $82.00 in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $90.58.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://ledgergazette.com/2017/09/25/cvs-health-corporation-cvs-shares-bought-by-fiduciary-trust-co.html.

In other news, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the sale, the chief operating officer now owns 119,555 shares in the company, valued at $9,939,802.70. The disclosure for this sale can be found here. Insiders have sold a total of 696,078 shares of company stock worth $56,650,631 in the last three months. Insiders own 0.61% of the company’s stock.

CVS Health Corporation (NYSE:CVS) opened at 79.63 on Monday. The company has a market cap of $80.95 billion, a PE ratio of 15.86 and a beta of 0.92. The stock’s 50 day moving average is $79.11 and its 200-day moving average is $78.98. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $90.85.

CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $45.69 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 4.5% on a year-over-year basis. During the same quarter last

Other hedge funds also recently modified their holdings of the company. Keel Point LLC raised its position in CVS Health Corporation by 0.7% during the first quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock valued at $259,000 after purchasing an additional 22 shares in the last quarter. Proffitt & Goodson Inc. raised its position in CVS Health Corporation by 0.4% during the first quarter. Proffitt & Goodson Inc. now owns 15,782 shares of the pharmacy operator’s stock valued at $1,239,000 after purchasing an additional 65 shares in the last quarter. Oxbow Advisors LLC raised its position in CVS Health Corporation by 0.8% during the first quarter. Oxbow Advisors LLC now owns 12,090 shares of the pharmacy operator’s stock valued at $949,000 after purchasing an additional 90 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its position in CVS Health Corporation by 0.6% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,122 shares of the pharmacy operator’s stock valued at $1,266,000 after purchasing an additional 90 shares in the last quarter. Finally, Cue Financial Group Inc. raised its position in CVS Health Corporation by 3.6% during the first quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock valued at $213,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

CVS has been the subject of several research analyst reports. Cowen and Company reiterated an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a report on Tuesday, June 13th. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. lowered their price target on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Royal Bank Of Canada initiated coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target for the company. Finally, Wolfe Research downgraded shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $89.00 to $82.00 in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $90.58.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://ledgergazette.com/2017/09/25/cvs-health-corporation-cvs-shares-bought-by-fiduciary-trust-co.html.

In other news, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the sale, the chief operating officer now owns 119,555 shares in the company, valued at $9,939,802.70. The disclosure for this sale can be found here. Insiders have sold a total of 696,078 shares of company stock worth $56,650,631 in the last three months. Insiders own 0.61% of the company’s stock.

CVS Health Corporation (NYSE:CVS) opened at 79.63 on Monday. The company has a market cap of $80.95 billion, a PE ratio of 15.86 and a beta of 0.92. The stock’s 50 day moving average is $79.11 and its 200-day moving average is $78.98. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $90.85.

CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $45.69 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 EPS. Equities research analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.

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

CVS Health Corporation Company 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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