Advisors Asset Management Inc. Grows Holdings in CVS Health Corp (NYSE:CVS)

Advisors Asset Management Inc. boosted its holdings in CVS Health Corp (NYSE:CVS) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,739 shares of the pharmacy operator’s stock after purchasing an additional 3,545 shares during the quarter. Advisors Asset Management Inc.’s holdings in CVS Health were worth $16,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. lifted its stake in shares of CVS Health by 0.6% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock worth $232,000 after buying an additional 18 shares in the last quarter. Traynor Capital Management Inc. lifted its stake in shares of CVS Health by 1.3% in the second quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after buying an additional 48 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of CVS Health by 0.8% in the second quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock worth $515,000 after buying an additional 53 shares in the last quarter. Brookstone Capital Management lifted its stake in shares of CVS Health by 1.8% in the second quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock worth $254,000 after buying an additional 55 shares in the last quarter. Finally, Mengis Capital Management Inc. lifted its stake in shares of CVS Health by 0.7% in the second quarter. Mengis Capital Management Inc. now owns 11,415 shares of the pharmacy operator’s stock worth $918,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.

A number of research analysts recently weighed in on the stock. Robert W. Baird restated a “hold” rating and set a $77.00 price objective on shares of CVS Health in a research report on Friday, October 27th. Needham & Company LLC upgraded shares of CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.02 to $79.00 in a research report on Friday, November 10th. Deutsche Bank restated a “hold” rating on shares of CVS Health in a research report on Tuesday, December 5th. Mizuho set a $90.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Raymond James Financial restated a “buy” rating on shares of CVS Health in a research report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $87.77.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

CVS Health Corp (NYSE CVS) traded down $1.16 on Friday, reaching $69.39. 16,694,087 shares of the company’s stock traded hands, compared to its average volume of 9,100,000. The company has a quick ratio of 0.55, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. CVS Health Corp has a fifty-two week low of $66.45 and a fifty-two week high of $84.00. The company has a market capitalization of $70,290.00, a P/E ratio of 11.76, a PEG ratio of 1.16 and a beta of 0.92.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business had revenue of $48.39 billion for the quarter, compared to the consensus estimate of $47.54 billion. During the same period last year, the firm earned $1.71 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. research analysts expect that CVS Health Corp will post 6.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.88%. CVS Health’s payout ratio is 33.90%.

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About CVS Health

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 (NYSE:CVS)

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