SeaBridge Investment Advisors LLC Grows Position in CVS Health Co. (NYSE:CVS)

SeaBridge Investment Advisors LLC raised its holdings in CVS Health Co. (NYSE:CVS) by 44.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,745 shares of the pharmacy operator’s stock after buying an additional 6,980 shares during the period. SeaBridge Investment Advisors LLC’s holdings in CVS Health were worth $1,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in CVS Health by 3.7% in the 2nd quarter. Brighton Jones LLC now owns 13,661 shares of the pharmacy operator’s stock valued at $1,140,000 after acquiring an additional 490 shares during the period. Wakefield Asset Management LLLP purchased a new stake in shares of CVS Health during the 2nd quarter worth approximately $253,000. CapWealth Advisors LLC grew its holdings in CVS Health by 3.7% in the second quarter. CapWealth Advisors LLC now owns 292,140 shares of the pharmacy operator’s stock valued at $24,376,000 after purchasing an additional 10,310 shares during the last quarter. River Road Asset Management LLC raised its position in CVS Health by 589.9% during the second quarter. River Road Asset Management LLC now owns 398,320 shares of the pharmacy operator’s stock worth $33,236,000 after acquiring an additional 340,587 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of CVS Health by 32.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 196,959 shares of the pharmacy operator’s stock valued at $16,434,000 after purchasing an additional 47,797 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Alan Lotvin sold 2,781 shares of the stock in a transaction on Monday, June 28th. The shares were sold at an average price of $83.67, for a total transaction of $232,686.27. Following the transaction, the executive vice president now owns 61,048 shares in the company, valued at approximately $5,107,886.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Troyen A. Brennan sold 2,625 shares of the stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $87.00, for a total transaction of $228,375.00. Following the transaction, the executive vice president now directly owns 140,201 shares in the company, valued at $12,197,487. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Shares of NYSE CVS traded up $1.45 during mid-day trading on Wednesday, reaching $85.34. 226,153 shares of the company traded hands, compared to its average volume of 6,445,591. The firm has a market cap of $112.61 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.67. CVS Health Co. has a fifty-two week low of $55.36 and a fifty-two week high of $90.61. The stock has a fifty day simple moving average of $83.62 and a 200-day simple moving average of $81.03.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 3rd. The pharmacy operator reported $2.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.35. The business had revenue of $72.62 billion during the quarter, compared to analyst estimates of $70.27 billion. CVS Health had a return on equity of 13.81% and a net margin of 2.59%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.62 earnings per share. As a group, analysts predict that CVS Health Co. will post 7.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 23rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, July 22nd. CVS Health’s dividend payout ratio is presently 26.67%.

Several research analysts recently weighed in on CVS shares. Wolfe Research increased their target price on CVS Health from $82.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 19th. Tigress Financial reissued a “buy” rating and set a $108.00 price target on shares of CVS Health in a research report on Friday, July 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CVS Health from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Barclays raised their price target on shares of CVS Health from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, May 19th. Finally, BMO Capital Markets increased their price target on CVS Health from $90.00 to $96.00 and gave the company a “market perform” rating in a report on Wednesday, May 19th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $94.89.

CVS Health Profile

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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