Glassman Wealth Services Purchases 398 Shares of CVS Health Co. (NYSE:CVS)

Glassman Wealth Services increased its position in shares of CVS Health Co. (NYSE:CVSGet Rating) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,040 shares of the pharmacy operator’s stock after purchasing an additional 398 shares during the period. Glassman Wealth Services’ holdings in CVS Health were worth $611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hedeker Wealth LLC increased its position in shares of CVS Health by 11.7% during the first quarter. Hedeker Wealth LLC now owns 50,316 shares of the pharmacy operator’s stock valued at $5,092,000 after purchasing an additional 5,252 shares during the period. Winthrop Advisory Group LLC increased its position in shares of CVS Health by 18.0% during the first quarter. Winthrop Advisory Group LLC now owns 4,078 shares of the pharmacy operator’s stock valued at $413,000 after purchasing an additional 623 shares during the period. Trinity Legacy Partners LLC increased its position in shares of CVS Health by 8.9% during the first quarter. Trinity Legacy Partners LLC now owns 29,060 shares of the pharmacy operator’s stock valued at $2,941,000 after purchasing an additional 2,385 shares during the period. Baldwin Brothers LLC MA increased its position in shares of CVS Health by 9.5% during the first quarter. Baldwin Brothers LLC MA now owns 17,279 shares of the pharmacy operator’s stock valued at $1,749,000 after purchasing an additional 1,500 shares during the period. Finally, Capital Investment Advisors LLC increased its position in shares of CVS Health by 1.6% during the first quarter. Capital Investment Advisors LLC now owns 145,513 shares of the pharmacy operator’s stock valued at $14,727,000 after purchasing an additional 2,286 shares during the period. Institutional investors and hedge funds own 78.00% of the company’s stock.

In related news, EVP Daniel P. Finke sold 55,359 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $100.13, for a total transaction of $5,543,096.67. Following the sale, the executive vice president now directly owns 3,098 shares in the company, valued at $310,202.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Prem S. Shah sold 16,954 shares of the stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $105.00, for a total value of $1,780,170.00. Following the transaction, the executive vice president now owns 43,453 shares of the company’s stock, valued at approximately $4,562,565. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,659 shares of company stock worth $7,882,993. Company insiders own 0.69% of the company’s stock.

Several brokerages recently commented on CVS. Deutsche Bank Aktiengesellschaft boosted their price target on CVS Health from $110.00 to $113.00 in a research note on Thursday, May 5th. Tigress Financial boosted their price target on CVS Health from $122.00 to $125.00 in a research note on Thursday, April 7th. StockNews.com began coverage on CVS Health in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Sanford C. Bernstein lowered CVS Health from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $122.00 to $112.00 in a research note on Thursday, May 26th. Finally, Loop Capital started coverage on CVS Health in a research note on Thursday, June 16th. They issued a “buy” rating and a $120.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.05.

Shares of NYSE CVS traded up $0.94 during mid-day trading on Thursday, hitting $92.23. The company’s stock had a trading volume of 56,116 shares, compared to its average volume of 4,455,777. The stock has a market cap of $120.94 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.88 and a quick ratio of 0.62. CVS Health Co. has a one year low of $79.33 and a one year high of $111.25. The company’s fifty day simple moving average is $97.08 and its 200-day simple moving average is $101.42.

CVS Health (NYSE:CVSGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.08. The company had revenue of $76.83 billion during the quarter, compared to analysts’ expectations of $75.30 billion. CVS Health had a return on equity of 15.33% and a net margin of 2.67%. During the same period in the prior year, the business posted $2.04 EPS. CVS Health’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that CVS Health Co. will post 8.34 EPS for the current year.

CVS Health Company Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

See Also

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

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