Hayek Kallen Investment Management grew its position in CVS Health Corp (NYSE:CVS) by 8.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,489 shares of the pharmacy operator’s stock after purchasing an additional 1,630 shares during the quarter. Hayek Kallen Investment Management’s holdings in CVS Health were worth $1,355,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Centaurus Financial Inc. lifted its holdings in shares of CVS Health by 570.8% in the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 1,387 shares during the period. Neville Rodie & Shaw Inc. purchased a new stake in shares of CVS Health during the 2nd quarter worth $3,041,000. Cox Capital Mgt LLC purchased a new stake in shares of CVS Health during the 2nd quarter worth $366,000. Boltwood Capital Management lifted its stake in shares of CVS Health by 32.4% during the 2nd quarter. Boltwood Capital Management now owns 12,020 shares of the pharmacy operator’s stock worth $655,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Thomasville National Bank lifted its stake in shares of CVS Health by 4.6% during the 2nd quarter. Thomasville National Bank now owns 231,853 shares of the pharmacy operator’s stock worth $12,634,000 after purchasing an additional 10,295 shares during the last quarter. Institutional investors and hedge funds own 76.17% of the company’s stock.
A number of equities research analysts recently weighed in on CVS shares. Cowen set a $76.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Monday, October 21st. Bank of America upped their target price on CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Barclays upped their target price on CVS Health from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday. Deutsche Bank began coverage on CVS Health in a research report on Thursday, September 12th. They set a “buy” rating and a $91.00 target price on the stock. Finally, TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $77.59.
In related news, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $63.00, for a total value of $1,115,289.00. Following the sale, the executive vice president now directly owns 36,163 shares in the company, valued at $2,278,269. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,437 shares of company stock worth $3,248,811. 0.53% of the stock is owned by corporate insiders.
Shares of CVS stock traded up $0.69 during mid-day trading on Friday, reaching $72.47. The stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. The business’s fifty day moving average is $64.66 and its 200-day moving average is $58.54. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $82.15.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company’s revenue was up 36.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. On average, analysts forecast that CVS Health Corp will post 6.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.76%. The ex-dividend date was Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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