CVS Health Corp (CVS) Stake Increased by Moors & Cabot Inc.
Moors & Cabot Inc. grew its stake in shares of CVS Health Corp (NYSE:CVS) by 12.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 59,851 shares of the pharmacy operator’s stock after acquiring an additional 6,715 shares during the quarter. CVS Health comprises about 0.7% of Moors & Cabot Inc.’s portfolio, making the stock its 23rd biggest holding. Moors & Cabot Inc.’s holdings in CVS Health were worth $4,849,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Pathstone Family Office LLC lifted its position in shares of CVS Health by 341.0% during the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock worth $2,353,000 after buying an additional 982 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of CVS Health by 330.3% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after buying an additional 991 shares during the last quarter. Fieldpoint Private Securities LLC lifted its position in shares of CVS Health by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after buying an additional 1,000 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of CVS Health by 119.6% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after buying an additional 726 shares during the last quarter. Finally, MPS Loria Financial Planners LLC bought a new stake in shares of CVS Health during the 2nd quarter worth $119,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.
Several brokerages recently weighed in on CVS. Needham & Company LLC set a $98.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Friday. ValuEngine downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Leerink Swann set a $85.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird restated a “hold” rating and set a $77.00 price objective on shares of CVS Health in a research report on Friday, October 27th. Finally, Mizuho set a $90.00 target price on CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $87.77.
CVS Health (NYSE:CVS) last issued its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.71 EPS. equities analysts forecast that CVS Health Corp will post 6.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th were paid a $0.50 dividend. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.86%. CVS Health’s payout ratio is 30.91%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company’s stock.
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About CVS Health
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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