Huntington National Bank Maintains Position in CVS Health Corporation (CVS)
Huntington National Bank held its position in CVS Health Corporation (NYSE:CVS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 394,114 shares of the pharmacy operator’s stock at the end of the second quarter. CVS Health Corporation comprises about 1.0% of Huntington National Bank’s holdings, making the stock its 18th largest position. Huntington National Bank’s holdings in CVS Health Corporation were worth $40,677,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CVS. Atwood & Palmer Inc. increased its position in CVS Health Corporation by 1.5% in the second quarter. Atwood & Palmer Inc. now owns 202,127 shares of the pharmacy operator’s stock valued at $19,352,000 after buying an additional 3,059 shares during the period. TIAA CREF Trust Co. FSB MO increased its position in CVS Health Corporation by 2.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 200,005 shares of the pharmacy operator’s stock valued at $19,149,000 after buying an additional 4,913 shares during the period. Sentry Investments Corp. increased its position in CVS Health Corporation by 6.3% in the first quarter. Sentry Investments Corp. now owns 2,179,600 shares of the pharmacy operator’s stock valued at $226,090,000 after buying an additional 128,300 shares during the period. Lodestar Investment Counsel LLC IL increased its position in CVS Health Corporation by 4.2% in the second quarter. Lodestar Investment Counsel LLC IL now owns 176,387 shares of the pharmacy operator’s stock valued at $16,887,000 after buying an additional 7,136 shares during the period. Finally, Scharf Investments LLC increased its position in CVS Health Corporation by 4.2% in the first quarter. Scharf Investments LLC now owns 1,914,846 shares of the pharmacy operator’s stock valued at $198,627,000 after buying an additional 76,797 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.63% during mid-day trading on Friday, hitting $88.99. The company had a trading volume of 9,151,656 shares. The firm’s 50 day moving average is $92.98 and its 200-day moving average is $97.44. CVS Health Corporation has a 12-month low of $86.50 and a 12-month high of $106.67. The firm has a market cap of $94.88 billion, a PE ratio of 20.47 and a beta of 0.84.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.02. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business earned $43.70 billion during the quarter, compared to analysts’ expectations of $44.28 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. On average, equities analysts expect that CVS Health Corporation will post $5.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.70 annualized dividend and a dividend yield of 1.91%. CVS Health Corporation’s dividend payout ratio is presently 39.08%.
CVS has been the topic of several recent analyst reports. Morgan Stanley reiterated a “hold” rating and set a $104.00 target price on shares of CVS Health Corporation in a research report on Monday, September 12th. Credit Suisse Group AG restated a “buy” rating and issued a $115.00 price objective on shares of CVS Health Corporation in a report on Tuesday, September 20th. Vetr downgraded CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 price objective on the stock. in a report on Monday, July 25th. Deutsche Bank AG raised their price objective on CVS Health Corporation from $99.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Finally, Jefferies Group restated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 4th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $113.02.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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