CVS Health Corp (NYSE:CVS) Shares Bought by Palouse Capital Management Inc.

Palouse Capital Management Inc. grew its position in shares of CVS Health Corp (NYSE:CVS) by 62.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 133,728 shares of the pharmacy operator’s stock after acquiring an additional 51,233 shares during the quarter. CVS Health comprises about 2.6% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Palouse Capital Management Inc.’s holdings in CVS Health were worth $7,287,000 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. Capital Investment Advisory Services LLC raised its stake in shares of CVS Health by 3.8% during the first quarter. Capital Investment Advisory Services LLC now owns 5,128 shares of the pharmacy operator’s stock valued at $277,000 after purchasing an additional 189 shares in the last quarter. Virginia National Bank raised its position in CVS Health by 4.9% in the first quarter. Virginia National Bank now owns 4,100 shares of the pharmacy operator’s stock worth $221,000 after acquiring an additional 190 shares in the last quarter. Burke & Herbert Bank & Trust Co. raised its position in CVS Health by 2.8% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 7,466 shares of the pharmacy operator’s stock worth $402,000 after acquiring an additional 200 shares in the last quarter. Fiduciary Group LLC raised its position in CVS Health by 3.2% in the second quarter. Fiduciary Group LLC now owns 6,485 shares of the pharmacy operator’s stock worth $353,000 after acquiring an additional 200 shares in the last quarter. Finally, First Command Financial Services Inc. raised its position in CVS Health by 16.0% in the second quarter. First Command Financial Services Inc. now owns 1,464 shares of the pharmacy operator’s stock worth $80,000 after acquiring an additional 202 shares in the last quarter. 75.20% of the stock is owned by institutional investors.

CVS Health stock traded down $1.50 during trading hours on Friday, reaching $60.55. 5,451,479 shares of the company were exchanged, compared to its average volume of 9,224,633. The firm has a market cap of $80.06 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 1.35 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average of $57.21 and a 200 day moving average of $56.35. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.19. The firm had revenue of $63.43 billion during the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, research analysts forecast that CVS Health Corp will post 6.96 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, July 25th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.30%. CVS Health’s payout ratio is currently 28.25%.

Several equities analysts have weighed in on CVS shares. Evercore ISI set a $63.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley reaffirmed a “buy” rating and set a $74.00 target price on shares of CVS Health in a research note on Sunday, August 11th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $80.00 target price on shares of CVS Health in a research note on Wednesday, May 1st. Citigroup lifted their target price on CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Mizuho set a $71.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $75.14.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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