Canton Hathaway LLC Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Canton Hathaway LLC grew its position in shares of CVS Health Co. (NYSE:CVS) by 343.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,506 shares of the pharmacy operator’s stock after buying an additional 19,756 shares during the quarter. Canton Hathaway LLC’s holdings in CVS Health were worth $2,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new stake in CVS Health in the second quarter worth approximately $25,000. MV Capital Management Inc. boosted its holdings in CVS Health by 96.1% in the second quarter. MV Capital Management Inc. now owns 400 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 196 shares during the last quarter. D Orazio & Associates Inc. purchased a new stake in CVS Health in the second quarter worth approximately $36,000. Smith Asset Management Group LP bought a new position in CVS Health in the second quarter worth approximately $38,000. Finally, Albion Financial Group UT bought a new position in CVS Health in the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.

In related news, EVP Troyen A. Brennan sold 28,159 shares of CVS Health stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $90.00, for a total transaction of $2,534,310.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan C. Roberts sold 108,870 shares of CVS Health stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $95.00, for a total transaction of $10,342,650.00. The disclosure for this sale can be found here. Insiders sold a total of 222,411 shares of company stock valued at $20,387,951 over the last three months. Corporate insiders own 0.69% of the company’s stock.

NYSE CVS traded down $0.99 on Thursday, reaching $92.65. The company had a trading volume of 6,109,424 shares, compared to its average volume of 6,219,442. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $122.30 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.74 and a beta of 0.81. The firm’s 50 day moving average price is $88.26 and its 200 day moving average price is $85.75. CVS Health Co. has a 12 month low of $67.06 and a 12 month high of $96.57.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 3rd. The pharmacy operator reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.18. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. The business had revenue of $73.79 billion during the quarter, compared to analysts’ expectations of $70.52 billion. During the same period last year, the company posted $1.66 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 7.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Shareholders of record on Friday, October 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, October 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.16%. CVS Health’s payout ratio is currently 34.97%.

Several research analysts have weighed in on CVS shares. Royal Bank of Canada increased their price target on shares of CVS Health from $97.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, November 4th. Credit Suisse Group increased their price target on shares of CVS Health from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Friday, November 5th. Mizuho increased their price target on shares of CVS Health from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th. JPMorgan Chase & Co. increased their price target on shares of CVS Health from $107.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 5th. Finally, Citigroup increased their price target on shares of CVS Health from $98.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, November 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Buy” and a consensus price target of $104.11.

About CVS Health

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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