Dorsey & Whitney Trust CO LLC lifted its position in shares of CVS Health Corp (NYSE:CVS) by 43.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,584 shares of the pharmacy operator’s stock after acquiring an additional 2,908 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in CVS Health were worth $756,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Summit Trail Advisors LLC grew its position in CVS Health by 6,111.0% during the first quarter. Summit Trail Advisors LLC now owns 152,231 shares of the pharmacy operator’s stock worth $152,000 after buying an additional 149,780 shares during the period. Brown Advisory Inc. lifted its holdings in shares of CVS Health by 23.3% in the first quarter. Brown Advisory Inc. now owns 271,629 shares of the pharmacy operator’s stock valued at $16,898,000 after purchasing an additional 51,292 shares in the last quarter. Cacti Asset Management LLC lifted its holdings in shares of CVS Health by 6.2% in the second quarter. Cacti Asset Management LLC now owns 446,147 shares of the pharmacy operator’s stock valued at $29,348,000 after purchasing an additional 26,195 shares in the last quarter. Clarus Wealth Advisors purchased a new stake in shares of CVS Health in the second quarter valued at about $138,000. Finally, Bangor Savings Bank purchased a new stake in shares of CVS Health in the second quarter valued at about $202,000. Institutional investors and hedge funds own 82.62% of the company’s stock.
Shares of CVS opened at $70.54 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.87 and a debt-to-equity ratio of 1.73. The company has a market cap of $71.39 billion, a P/E ratio of 10.64, a PEG ratio of 0.94 and a beta of 1.02. CVS Health Corp has a 1 year low of $60.14 and a 1 year high of $83.88.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Tuesday, October 23rd. CVS Health’s payout ratio is 33.90%.
CVS has been the topic of several recent research reports. Bank of America upped their price target on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 28th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $90.00 price target on shares of CVS Health in a report on Wednesday, August 8th. Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a report on Friday. Finally, Morgan Stanley reduced their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $86.18.
In related news, 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 transaction of $1,027,076.76. Following the transaction, the executive vice president now owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin Hourican sold 8,564 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders have sold 43,409 shares of company stock worth $3,392,097 in the last three months. Insiders own 0.53% of the company’s stock.
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.
Further Reading: Cash Flow Analysis in Stock Selection
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