Canandaigua National Bank & Trust Co. Sells 2,934 Shares of CVS Health Corporation (CVS)
Canandaigua National Bank & Trust Co. decreased its position in shares of CVS Health Corporation (NYSE:CVS) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,709 shares of the pharmacy operator’s stock after selling 2,934 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in CVS Health Corporation were worth $3,839,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. TB Alternative Assets Ltd. purchased a new position in shares of CVS Health Corporation during the second quarter valued at approximately $121,000. Gemmer Asset Management LLC boosted its position in shares of CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 734 shares during the last quarter. Grace & White Inc. NY purchased a new position in shares of CVS Health Corporation during the second quarter valued at approximately $199,000. Finally, Nadler Financial Group Inc. purchased a new position in shares of CVS Health Corporation during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.
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Several research analysts have weighed in on the company. Royal Bank Of Canada assumed coverage on CVS Health Corporation in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective on the stock. Jefferies Group LLC boosted their price objective on CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday, September 15th. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. Finally, Wolfe Research cut CVS Health Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $87.33.
CVS Health Corporation (NYSE:CVS) opened at $69.25 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.56 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $70,397.13, a PE ratio of 11.84, a PEG ratio of 1.26 and a beta of 0.86. CVS Health Corporation has a 1 year low of $68.01 and a 1 year high of $84.72.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 EPS. sell-side analysts anticipate that CVS Health Corporation will post 5.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Monday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.89%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
In related news, Director Richard J. Swift sold 2,500 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares in the company, valued at approximately $259,401.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Denton sold 237,078 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.65, for a total value of $18,883,262.70. Following the sale, the chief financial officer now owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The disclosure for this sale can be found here. Insiders have sold a total of 716,625 shares of company stock worth $58,318,431 over the last quarter. Corporate insiders own 0.61% of the company’s stock.
CVS Health Corporation Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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