CVS Health Co. (NYSE:CVS) is Waters Parkerson & CO. LLC’s 9th Largest Position

Waters Parkerson & CO. LLC lowered its stake in CVS Health Co. (NYSE:CVSGet Rating) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 411,735 shares of the pharmacy operator’s stock after selling 720 shares during the quarter. CVS Health accounts for 2.6% of Waters Parkerson & CO. LLC’s portfolio, making the stock its 9th biggest position. Waters Parkerson & CO. LLC’s holdings in CVS Health were worth $39,267,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. SRS Capital Advisors Inc. grew its position in shares of CVS Health by 105.8% in the 3rd quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock worth $27,000 after buying an additional 146 shares during the period. Karp Capital Management Corp bought a new position in shares of CVS Health during the third quarter valued at approximately $30,000. Coston McIsaac & Partners purchased a new position in shares of CVS Health during the second quarter valued at approximately $34,000. Moisand Fitzgerald Tamayo LLC boosted its position in shares of CVS Health by 63.6% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 368 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 143 shares in the last quarter. Finally, Providence First Trust Co purchased a new stake in shares of CVS Health in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS traded down $1.03 during midday trading on Wednesday, hitting $84.99. 4,504,024 shares of the company’s stock traded hands, compared to its average volume of 10,227,651. The firm has a fifty day moving average of $95.33 and a 200 day moving average of $96.94. CVS Health Co. has a 1 year low of $84.82 and a 1 year high of $111.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.69 and a current ratio of 0.94. The stock has a market capitalization of $111.67 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 1.35 and a beta of 0.71.

CVS Health (NYSE:CVSGet Rating) last announced its earnings results on Wednesday, November 2nd. The pharmacy operator reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.10. CVS Health had a net margin of 1.00% and a return on equity of 15.56%. The business had revenue of $81.16 billion during the quarter, compared to analysts’ expectations of $76.53 billion. On average, analysts forecast that CVS Health Co. will post 8.63 earnings per share for the current year.

CVS Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Friday, January 20th will be issued a $0.605 dividend. This represents a $2.42 annualized dividend and a dividend yield of 2.85%. This is a boost from CVS Health’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, January 19th. CVS Health’s payout ratio is 102.98%.

Analysts Set New Price Targets

Several research firms have commented on CVS. Bank of America dropped their target price on CVS Health from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. Credit Suisse Group increased their price objective on shares of CVS Health from $117.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 21st. Royal Bank of Canada cut their price target on shares of CVS Health from $119.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 7th. The Goldman Sachs Group lowered their price objective on CVS Health from $128.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Finally, Wells Fargo & Company reduced their target price on CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a report on Tuesday, January 3rd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.13.

Insiders Place Their Bets

In other news, EVP Thomas M. Moriarty sold 137,466 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $98.36, for a total value of $13,521,155.76. Following the completion of the sale, the executive vice president now directly owns 608,129 shares of the company’s stock, valued at approximately $59,815,568.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.

CVS Health Company Profile

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CVS Health Corp. engages in the provision of healthcare 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 the sale of prescription drugs and an assortment of health and wellness products, and general merchandise.

See Also

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

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