Essex Financial Services Inc. raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 28.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 22,116 shares of the pharmacy operator’s stock after purchasing an additional 4,937 shares during the period. Essex Financial Services Inc.’s holdings in CVS Health were worth $1,423,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Leavell Investment Management Inc. grew its holdings in shares of CVS Health by 13.1% during the second quarter. Leavell Investment Management Inc. now owns 6,507 shares of the pharmacy operator’s stock worth $419,000 after buying an additional 754 shares in the last quarter. Butensky & Cohen Financial Security Inc. grew its holdings in shares of CVS Health by 2.9% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 27,216 shares of the pharmacy operator’s stock worth $1,751,000 after buying an additional 772 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of CVS Health by 3.1% during the second quarter. Trust Co. of Vermont now owns 26,186 shares of the pharmacy operator’s stock worth $1,685,000 after buying an additional 776 shares in the last quarter. Blue Chip Partners Inc. grew its holdings in shares of CVS Health by 12.9% during the second quarter. Blue Chip Partners Inc. now owns 6,865 shares of the pharmacy operator’s stock worth $442,000 after buying an additional 785 shares in the last quarter. Finally, M Holdings Securities Inc. grew its holdings in shares of CVS Health by 9.4% during the fourth quarter. M Holdings Securities Inc. now owns 9,160 shares of the pharmacy operator’s stock worth $222,000 after buying an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 82.72% of the company’s stock.
A number of brokerages have recently commented on CVS. Loop Capital set a $68.00 price target on shares of CVS Health and gave the stock a “hold” rating in a report on Monday, May 7th. Leerink Swann set a $80.00 price target on shares of CVS Health and gave the stock an “outperform” rating in a report on Thursday, August 9th. Citigroup reiterated a “buy” rating and set a $81.00 price target on shares of CVS Health in a report on Monday, July 9th. ValuEngine downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Morgan Stanley lowered their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 3rd. Three analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has an average rating of “Buy” and an average price target of $86.04.
CVS Health stock opened at $73.69 on Wednesday. CVS Health Corp has a 1 year low of $60.14 and a 1 year high of $84.00. The company has a market capitalization of $75.01 billion, a P/E ratio of 11.18, a P/E/G ratio of 0.99 and a beta of 0.96. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The firm had revenue of $46.71 billion during the quarter, compared to the consensus estimate of $46.34 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. CVS Health’s revenue was up 2.2% compared to the same quarter last year. research analysts predict that CVS Health Corp will post 7.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Wednesday, July 25th were issued a $0.50 dividend. The ex-dividend date was Tuesday, July 24th. This represents a $2.00 dividend on an annualized basis and a yield of 2.71%. CVS Health’s payout ratio is 33.90%.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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