Kistler Tiffany Companies LLC Raises Stake in CVS Health Corp (CVS)

Kistler Tiffany Companies LLC grew its holdings in CVS Health Corp (NYSE:CVS) by 35.4% during the first quarter, HoldingsChannel.com reports. The fund owned 33,432 shares of the pharmacy operator’s stock after purchasing an additional 8,739 shares during the quarter. CVS Health makes up about 0.7% of Kistler Tiffany Companies LLC’s portfolio, making the stock its 23rd biggest holding. Kistler Tiffany Companies LLC’s holdings in CVS Health were worth $1,803,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in CVS Health by 22.0% during the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after buying an additional 16,757,941 shares during the period. Vanguard Group Inc increased its stake in CVS Health by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after buying an additional 1,445,887 shares during the period. FMR LLC increased its stake in CVS Health by 30.6% during the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after buying an additional 9,194,005 shares during the period. Oregon Public Employees Retirement Fund increased its stake in CVS Health by 6,858.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after buying an additional 24,728,818 shares during the period. Finally, Northern Trust Corp increased its stake in CVS Health by 24.6% during the 4th quarter. Northern Trust Corp now owns 17,939,831 shares of the pharmacy operator’s stock worth $1,175,418,000 after buying an additional 3,543,504 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

In other CVS Health news, Director Edward J. Ludwig purchased 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $58.27 per share, with a total value of $233,080.00. Following the acquisition, the director now owns 5,378 shares of the company’s stock, valued at approximately $313,376.06. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director C David Brown II purchased 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $53.18 per share, with a total value of $531,800.00. Following the completion of the acquisition, the director now directly owns 16,222 shares in the company, valued at approximately $862,685.96. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 23,600 shares of company stock valued at $1,270,896. 0.53% of the stock is owned by company insiders.

Shares of CVS stock opened at $52.79 on Thursday. The firm has a market cap of $68.58 billion, a price-to-earnings ratio of 7.46, a P/E/G ratio of 1.05 and a beta of 0.93. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. CVS Health Corp has a 1-year low of $51.77 and a 1-year high of $82.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.12. The company had revenue of $61.65 billion during the quarter, compared to analyst estimates of $60.39 billion. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. Equities analysts forecast that CVS Health Corp will post 6.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.79%. The ex-dividend date was Monday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.

CVS has been the topic of several analyst reports. UBS Group initiated coverage on shares of CVS Health in a research note on Thursday, January 17th. They set a “buy” rating and a $75.00 price target on the stock. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 17th. Wells Fargo & Co downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $104.00 to $68.00 in a research note on Wednesday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price target on shares of CVS Health in a research note on Thursday, February 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $91.00 price target on shares of CVS Health in a research note on Thursday, February 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $77.62.

TRADEMARK VIOLATION NOTICE: This report was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.wkrb13.com/2019/05/16/kistler-tiffany-companies-llc-raises-stake-in-cvs-health-corp-cvs.html.

About CVS Health

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.

Featured Article: Strike Price

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).

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

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.