CVS Health Co. (NYSE:CVS) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 230,324 shares of the pharmacy operator’s stock after purchasing an additional 5,013 shares during the quarter. Raymond James Trust N.A.’s holdings in CVS Health were worth $15,731,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Formidable Asset Management LLC boosted its holdings in CVS Health by 9.3% in the 3rd quarter. Formidable Asset Management LLC now owns 17,767 shares of the pharmacy operator’s stock worth $1,029,000 after acquiring an additional 1,506 shares during the period. Van ECK Associates Corp boosted its holdings in CVS Health by 16.6% in the 3rd quarter. Van ECK Associates Corp now owns 161,529 shares of the pharmacy operator’s stock worth $9,433,000 after acquiring an additional 23,005 shares during the period. Perkins Coie Trust Co boosted its holdings in CVS Health by 2.8% in the 4th quarter. Perkins Coie Trust Co now owns 41,512 shares of the pharmacy operator’s stock worth $2,835,000 after acquiring an additional 1,141 shares during the period. Butensky & Cohen Financial Security Inc. boosted its holdings in CVS Health by 11.7% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 49,203 shares of the pharmacy operator’s stock worth $3,361,000 after acquiring an additional 5,145 shares during the period. Finally, Fiduciary Trust Co. boosted its holdings in CVS Health by 5.7% in the 3rd quarter. Fiduciary Trust Co. now owns 240,550 shares of the pharmacy operator’s stock worth $14,048,000 after acquiring an additional 13,025 shares during the period. Hedge funds and other institutional investors own 74.21% of the company’s stock.

A number of research firms have weighed in on CVS. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a report on Monday, November 9th. Piper Sandler increased their target price on CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. SVB Leerink increased their target price on CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a research note on Monday, December 14th. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Friday, January 8th. Finally, BidaskClub upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $82.93.

CVS traded down $1.34 during trading hours on Wednesday, hitting $74.92. 6,149,621 shares of the stock were exchanged, compared to its average volume of 8,405,203. The stock has a 50-day simple moving average of $70.55 and a 200-day simple moving average of $64.33. CVS Health Co. has a 12 month low of $52.04 and a 12 month high of $77.23. The stock has a market cap of $98.06 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.33. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The firm had revenue of $67.05 billion for the quarter, compared to analysts’ expectations of $66.54 billion. During the same period last year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 7.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, January 21st. CVS Health’s dividend payout ratio is presently 28.25%.

In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of the stock in a transaction on Friday, November 13th. The stock was sold at an average price of $70.00, for a total value of $499,660.00. Following the sale, the executive vice president now directly owns 8,023 shares of the company’s stock, valued at $561,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Bisaccia sold 25,177 shares of the stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $77.00, for a total value of $1,938,629.00. Following the completion of the sale, the executive vice president now directly owns 71,765 shares in the company, valued at $5,525,905. The disclosure for this sale can be found here. Insiders sold 58,151 shares of company stock worth $4,375,989 over the last ninety days. 0.46% of the stock is owned by corporate insiders.

CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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

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