Bank of Stockton reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,569 shares of the pharmacy operator’s stock after selling 600 shares during the period. Bank of Stockton’s holdings in CVS Health Corporation were worth $1,379,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CVS. State Street Corp boosted its position in CVS Health Corporation by 1.9% in the fourth quarter. State Street Corp now owns 44,288,047 shares of the pharmacy operator’s stock worth $3,494,770,000 after buying an additional 838,787 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in CVS Health Corporation by 100.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,280,528 shares of the pharmacy operator’s stock worth $1,442,516,000 after buying an additional 9,180,492 shares during the period. Franklin Resources Inc. boosted its position in CVS Health Corporation by 19.9% in the fourth quarter. Franklin Resources Inc. now owns 14,288,826 shares of the pharmacy operator’s stock worth $1,127,532,000 after buying an additional 2,372,019 shares during the period. Norges Bank bought a new position in CVS Health Corporation during the fourth quarter worth $800,355,000. Finally, Macquarie Group Ltd. boosted its position in CVS Health Corporation by 16.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,526,280 shares of the pharmacy operator’s stock worth $751,719,000 after buying an additional 1,359,100 shares during the period. 81.98% of the stock is currently owned by institutional investors.

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

CVS Health Corporation (CVS) opened at 78.10 on Tuesday. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $98.66. The stock has a market capitalization of $79.57 billion, a price-to-earnings ratio of 16.29 and a beta of 0.92. The firm has a 50-day moving average of $78.84 and a 200-day moving average of $79.38.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.07. The firm had revenue of $44.51 billion for the quarter, compared to analysts’ expectations of $44.20 billion. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. CVS Health Corporation’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. Equities research analysts forecast that CVS Health Corporation will post $5.87 earnings per share for the current fiscal year.

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A number of equities analysts have recently weighed in on CVS shares. Bank of America Corporation reaffirmed a “buy” rating and set a $106.67 price target on shares of CVS Health Corporation in a research note on Tuesday, February 28th. Evercore ISI reaffirmed an “outperform” rating and set a $88.00 price target (up from $87.00) on shares of CVS Health Corporation in a research note on Wednesday, May 3rd. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price target on the stock in a research note on Wednesday, May 17th. ValuEngine cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Tigress Financial started coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They set a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. CVS Health Corporation has a consensus rating of “Buy” and an average target price of $93.98.

In related news, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the transaction, the chief financial officer now owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

CVS Health Corporation 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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