Hayek Kallen Investment Management Acquires 1,630 Shares of CVS Health Corp (NYSE:CVS)

Hayek Kallen Investment Management increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,489 shares of the pharmacy operator’s stock after buying an additional 1,630 shares during the period. Hayek Kallen Investment Management’s holdings in CVS Health were worth $1,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Baldwin Brothers Inc. MA lifted its stake in CVS Health by 1.1% in the 3rd quarter. Baldwin Brothers Inc. MA now owns 14,911 shares of the pharmacy operator’s stock valued at $941,000 after buying an additional 165 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of CVS Health by 0.8% during the 2nd quarter. Mutual Advisors LLC now owns 20,641 shares of the pharmacy operator’s stock valued at $1,125,000 after buying an additional 172 shares during the period. Enterprise Financial Services Corp lifted its stake in shares of CVS Health by 3.7% in the 3rd quarter. Enterprise Financial Services Corp now owns 5,156 shares of the pharmacy operator’s stock valued at $325,000 after purchasing an additional 185 shares during the last quarter. Fiduciary Group LLC lifted its stake in shares of CVS Health by 3.2% in the 2nd quarter. Fiduciary Group LLC now owns 6,485 shares of the pharmacy operator’s stock valued at $353,000 after purchasing an additional 200 shares during the last quarter. Finally, Legacy Advisors LLC lifted its stake in shares of CVS Health by 2.5% in the 3rd quarter. Legacy Advisors LLC now owns 8,048 shares of the pharmacy operator’s stock valued at $508,000 after purchasing an additional 200 shares during the last quarter. 76.17% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Eva C. Boratto sold 8,130 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the transaction, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the transaction, the executive vice president now owns 36,163 shares in the company, valued at approximately $2,278,269. The disclosure for this sale can be found here. Insiders sold a total of 49,437 shares of company stock worth $3,248,811 in the last quarter. Insiders own 0.53% of the company’s stock.

CVS traded up $0.69 during trading on Friday, hitting $72.47. The stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. The firm has a market cap of $87.55 billion, a PE ratio of 10.24, a P/E/G ratio of 1.46 and a beta of 0.86. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15. 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 company has a 50 day simple moving average of $64.66 and a 200-day simple moving average of $58.54.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, topping the consensus estimate of $1.77 by $0.07. The firm had revenue of $64.81 billion for the quarter, compared to the consensus estimate of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. As a group, sell-side analysts anticipate that CVS Health Corp will post 6.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.76%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.

Several research firms recently issued reports on CVS. TheStreet raised shares of CVS Health from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. SunTrust Banks lifted their price objective on shares of CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank began coverage on shares of CVS Health in a research note on Thursday, September 12th. They issued a “buy” rating and a $91.00 price objective for the company. UBS Group reaffirmed a “buy” rating and issued a $78.00 price objective on shares of CVS Health in a research note on Thursday. Finally, Cowen set a $76.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $77.59.

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.

Further Reading: Dividend Yield

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

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