CVS Health Corp (CVS) Stake Raised by Willingdon Wealth Management

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Willingdon Wealth Management grew its position in CVS Health Corp (NYSE:CVS) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,029 shares of the pharmacy operator’s stock after acquiring an additional 1,647 shares during the quarter. Willingdon Wealth Management’s holdings in CVS Health were worth $3,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of CVS Health by 5.9% in the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after acquiring an additional 4,121,620 shares during the period. Parnassus Investments CA raised its stake in shares of CVS Health by 2.2% in the second quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock valued at $1,072,039,000 after acquiring an additional 350,872 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CVS Health by 15.9% in the second quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock valued at $809,095,000 after acquiring an additional 1,721,683 shares during the period. Veritas Asset Management LLP raised its stake in shares of CVS Health by 4.5% in the second quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock valued at $765,149,000 after acquiring an additional 508,500 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of CVS Health by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,840,057 shares of the pharmacy operator’s stock valued at $697,653,000 after acquiring an additional 64,223 shares during the period. 82.42% of the stock is currently owned by institutional investors and hedge funds.

CVS stock opened at $79.83 on Friday. The stock has a market capitalization of $80.25 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.05 and a beta of 0.98. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $83.88. The company has a current ratio of 2.44, a quick ratio of 1.87 and a debt-to-equity ratio of 1.66.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The company had revenue of $47.27 billion for the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 EPS. On average, equities research analysts expect that CVS Health Corp will post 7.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s dividend payout ratio is presently 33.90%.

In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the transaction, the executive vice president now directly owns 12,135 shares in the company, valued at approximately $910,125. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the transaction, the executive vice president now owns 55,162 shares in the company, valued at $4,256,299.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,409 shares of company stock worth $3,392,097. 0.53% of the stock is owned by company insiders.

Several brokerages have recently weighed in on CVS. Loop Capital set a $80.00 target price on shares of CVS Health and gave the company a “hold” rating in a research note on Friday. Leerink Swann increased their target price on shares of CVS Health from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Thursday. Morgan Stanley set a $100.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada set a $100.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday. Finally, ValuEngine raised shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $89.38.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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

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