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PFS Investments Inc. Has $36.58 Million Stake in CVS Health Co. (NYSE:CVS)

PFS Investments Inc. lifted its position in CVS Health Co. (NYSE:CVSGet Rating) by 15.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,466 shares of the pharmacy operator’s stock after purchasing an additional 47,933 shares during the quarter. PFS Investments Inc.’s holdings in CVS Health were worth $36,584,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in CVS Health in the fourth quarter valued at $1,346,805,000. Vanguard Group Inc. grew its position in CVS Health by 2.4% in the first quarter. Vanguard Group Inc. now owns 111,865,662 shares of the pharmacy operator’s stock valued at $11,321,923,000 after acquiring an additional 2,628,740 shares during the period. State Street Corp grew its position in CVS Health by 2.8% in the fourth quarter. State Street Corp now owns 56,810,314 shares of the pharmacy operator’s stock valued at $5,860,552,000 after acquiring an additional 1,560,168 shares during the period. Bank of New York Mellon Corp grew its position in CVS Health by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 16,028,628 shares of the pharmacy operator’s stock valued at $1,622,257,000 after acquiring an additional 1,385,322 shares during the period. Finally, American Century Companies Inc. grew its position in CVS Health by 41.5% in the first quarter. American Century Companies Inc. now owns 2,685,347 shares of the pharmacy operator’s stock valued at $271,784,000 after acquiring an additional 787,612 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 0.1 %

NYSE:CVS opened at $102.15 on Friday. CVS Health Co. has a 1-year low of $81.78 and a 1-year high of $111.25. The business’s 50-day moving average price is $98.77 and its two-hundred day moving average price is $99.42. The company has a current ratio of 0.91, a quick ratio of 0.65 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $134.11 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.47 and a beta of 0.73.

CVS Health (NYSE:CVSGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. The company had revenue of $80.64 billion for the quarter, compared to analyst estimates of $76.38 billion. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. CVS Health’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 earnings per share. On average, equities analysts expect that CVS Health Co. will post 8.54 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 22nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Thursday, July 21st. CVS Health’s dividend payout ratio is currently 35.77%.

Analyst Ratings Changes

CVS has been the topic of several research analyst reports. Evercore ISI increased their target price on CVS Health from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group increased their target price on CVS Health from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Sanford C. Bernstein cut CVS Health from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $122.00 to $112.00 in a report on Thursday, May 26th. Tigress Financial increased their target price on CVS Health from $125.00 to $130.00 in a report on Wednesday, August 17th. Finally, Credit Suisse Group increased their target price on CVS Health from $113.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $117.59.

Insider Transactions at CVS Health

In other news, EVP Thomas M. Moriarty sold 138,654 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the sale, the executive vice president now owns 626,273 shares of the company’s stock, valued at $59,495,935. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Thomas M. Moriarty sold 138,654 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the transaction, the executive vice president now directly owns 626,273 shares in the company, valued at $59,495,935. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares of the company’s stock, valued at $11,355,032. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.

CVS Health Company Profile

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CVS Health Corporation provides health services in the United States. The company’s 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.

See Also

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