Taylor Wealth Management Partners boosted its holdings in CVS Health Corp (NYSE:CVS) by 86.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,907 shares of the pharmacy operator’s stock after purchasing an additional 52,776 shares during the quarter. CVS Health makes up 4.3% of Taylor Wealth Management Partners’ portfolio, making the stock its 11th biggest holding. Taylor Wealth Management Partners’ holdings in CVS Health were worth $7,463,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Cornerstone Advisors Inc. increased its stake in CVS Health by 71.6% during the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after acquiring an additional 212 shares during the last quarter. Canton Hathaway LLC acquired a new stake in CVS Health during the third quarter worth about $126,000. MCF Advisors LLC increased its stake in CVS Health by 284.1% during the third quarter. MCF Advisors LLC now owns 1,713 shares of the pharmacy operator’s stock worth $135,000 after acquiring an additional 1,267 shares during the last quarter. Capital Guardian Trust Co. acquired a new stake in CVS Health during the third quarter worth about $142,000. Finally, Patten Group Inc. increased its stake in CVS Health by 163.4% during the third quarter. Patten Group Inc. now owns 1,844 shares of the pharmacy operator’s stock worth $145,000 after acquiring an additional 1,144 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.
CVS has been the subject of several research analyst reports. Bank of America upped their price target on CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Royal Bank of Canada upped their price target on CVS Health to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 18th. ValuEngine upgraded CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Wolfe Research initiated coverage on CVS Health in a research note on Thursday, October 25th. They set a “peer perform” rating for the company. Finally, Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $91.98.
In related news, EVP Troyen A. Brennan sold 14,229 shares of the stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total value of $1,166,778.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Denton sold 25,159 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $80.13, for a total value of $2,015,990.67. Following the completion of the transaction, the chief financial officer now directly owns 403 shares of the company’s stock, valued at approximately $32,292.39. The disclosure for this sale can be found here. Insiders sold 205,756 shares of company stock valued at $14,668,815 in the last three months. 0.53% of the stock is currently owned by company insiders.
Shares of CVS stock traded down $0.44 during trading hours on Monday, reaching $65.37. The company had a trading volume of 729,777 shares, compared to its average volume of 10,332,661. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.94 and a current ratio of 2.44. CVS Health Corp has a twelve month low of $60.14 and a twelve month high of $83.88. The firm has a market cap of $67.28 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.
CVS Health (NYSE:CVS) last posted its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The business had revenue of $47.27 billion during the quarter, compared to analyst estimates of $47.22 billion. During the same quarter last year, the firm earned $1.50 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that CVS Health Corp will post 7.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 4th. Investors of record on Friday, January 25th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, January 24th. CVS Health’s dividend payout ratio is currently 33.90%.
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CVS Health Company 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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