Coastline Trust Co Lowers Holdings in CVS Health Corp (CVS)

Coastline Trust Co decreased its position in shares of CVS Health Corp (NYSE:CVS) by 18.8% during the fourth quarter, HoldingsChannel reports. The firm owned 29,094 shares of the pharmacy operator’s stock after selling 6,725 shares during the period. Coastline Trust Co’s holdings in CVS Health were worth $2,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FIL Ltd raised its position in CVS Health by 13.8% during the second quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock valued at $41,424,000 after purchasing an additional 62,318 shares in the last quarter. ETRADE Capital Management LLC raised its position in CVS Health by 3.7% during the second quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock valued at $4,478,000 after purchasing an additional 1,979 shares in the last quarter. Ally Financial Inc. increased its holdings in shares of CVS Health by 20.0% in the second quarter. Ally Financial Inc. now owns 90,000 shares of the pharmacy operator’s stock worth $7,241,000 after buying an additional 15,000 shares during the period. Prudential Financial Inc. increased its holdings in shares of CVS Health by 13.1% in the third quarter. Prudential Financial Inc. now owns 3,332,567 shares of the pharmacy operator’s stock worth $271,004,000 after buying an additional 386,036 shares during the period. Finally, Loews Corp purchased a new position in shares of CVS Health in the second quarter worth about $20,115,000. Institutional investors and hedge funds own 83.23% of the company’s stock.

Shares of CVS Health Corp (NYSE:CVS) opened at $68.16 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $69,050.00, a PE ratio of 10.53, a P/E/G ratio of 1.17 and a beta of 0.92. CVS Health Corp has a 12 month low of $66.45 and a 12 month high of $84.00.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The company had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. CVS Health’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. analysts predict that CVS Health Corp will post 6.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.93%. CVS Health’s payout ratio is presently 30.91%.

Several research analysts have recently commented on CVS shares. Royal Bank of Canada set a $95.00 price objective on CVS Health and gave the stock a “buy” rating in a report on Monday, December 4th. Leerink Swann set a $85.00 price objective on CVS Health and gave the stock a “buy” rating in a report on Monday, December 4th. Needham & Company LLC lifted their price objective on CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Deutsche Bank started coverage on CVS Health in a report on Monday, December 4th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Cowen set a $86.00 price objective on CVS Health and gave the stock a “buy” rating in a report on Sunday, October 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $87.82.

In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the sale, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the sale, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

ILLEGAL ACTIVITY WARNING: This article was posted by Week Herald and is owned by of Week Herald. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at https://weekherald.com/2018/02/24/coastline-trust-co-lowers-holdings-in-cvs-health-corp-cvs.html.

About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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.

Leave a Reply