Farmers & Merchants Investments Inc. raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 9.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 238,626 shares of the pharmacy operator’s stock after acquiring an additional 21,246 shares during the period. CVS Health makes up about 1.3% of Farmers & Merchants Investments Inc.’s investment portfolio, making the stock its 15th largest position. Farmers & Merchants Investments Inc.’s holdings in CVS Health were worth $18,785,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Camarda Financial Advisors LLC purchased a new position in shares of CVS Health in the 2nd quarter worth about $102,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of CVS Health in the 2nd quarter worth about $103,000. Legacy Advisors LLC boosted its holdings in shares of CVS Health by 7,100.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock worth $116,000 after purchasing an additional 1,775 shares in the last quarter. Squar Milner Financial Services LLC purchased a new position in shares of CVS Health in the 2nd quarter worth about $122,000. Finally, Canton Hathaway LLC purchased a new position in shares of CVS Health in the 3rd quarter worth about $126,000. Institutional investors and hedge funds own 82.62% of the company’s stock.
A number of research firms have recently weighed in on CVS. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a research note on Wednesday. Tigress Financial reissued a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. Wolfe Research began coverage on CVS Health in a research note on Thursday, October 25th. They issued a “peer perform” rating for the company. Royal Bank of Canada set a $99.00 target price on CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, Bank of America boosted their target price on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average price target of $86.18.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The company had revenue of $46.71 billion during the quarter, compared to analyst estimates of $46.34 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. CVS Health’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 EPS. Equities research analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s payout ratio is 33.90%.
In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the transaction, the executive vice president now directly owns 55,162 shares of the company’s stock, valued at approximately $4,256,299.92. The disclosure for this sale can be found here. Insiders have sold a total of 43,409 shares of company stock valued at $3,392,097 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.
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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