Mayo Investment Advisers LLC decreased its position in shares of CVS Health Corp (NYSE:CVS) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,263 shares of the pharmacy operator’s stock after selling 9,500 shares during the period. CVS Health makes up approximately 3.3% of Mayo Investment Advisers LLC’s investment portfolio, making the stock its 9th biggest position. Mayo Investment Advisers LLC’s holdings in CVS Health were worth $7,178,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CVS. Fieldpoint Private Securities LLC grew its position in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after acquiring an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in CVS Health in the second quarter worth about $119,000. Gemmer Asset Management LLC grew its position in CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in CVS Health in the second quarter worth about $155,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.

CVS Health Corp (CVS) opened at $77.77 on Tuesday. CVS Health Corp has a 12-month low of $66.45 and a 12-month high of $84.72. The stock has a market capitalization of $78,780.00, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05.

CVS Health (NYSE:CVS) last announced its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. equities research analysts forecast that CVS Health Corp will post 5.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio is presently 41.32%.

In other news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

CVS has been the subject of several recent research reports. Jefferies Group lifted their price target on CVS Health from $82.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday, September 15th. Royal Bank of Canada initiated coverage on CVS Health in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price target for the company. Oppenheimer reiterated a “buy” rating and issued a $95.00 price target on shares of CVS Health in a research report on Monday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health in a research report on Thursday, October 12th. Finally, SunTrust Banks set a $85.00 price target on CVS Health and gave the stock a “buy” rating in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $86.66.

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

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