Burke & Herbert Bank & Trust Co. Has $591,000 Position in CVS Health Corporation (CVS)
Burke & Herbert Bank & Trust Co. continued to hold its position in CVS Health Corporation (NYSE:CVS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,350 shares of the pharmacy operator’s stock at the close of the second quarter. Burke & Herbert Bank & Trust Co.’s holdings in CVS Health Corporation were worth $591,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Mercer Capital Advisers Inc. purchased a new position in shares of CVS Health Corporation during the 1st quarter valued at $118,000. SRS Capital Advisors Inc. lifted its stake in shares of CVS Health Corporation by 48.2% during the 1st 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 in the last quarter. Cue Financial Group Inc. lifted its stake in shares of CVS Health Corporation by 3.6% during the 1st quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock valued at $213,000 after buying an additional 95 shares in the last quarter. Pettee Investors Inc. purchased a new position in shares of CVS Health Corporation during the 1st quarter valued at $214,000. Finally, Sfmg LLC lifted its stake in shares of CVS Health Corporation by 7.3% during the 1st quarter. Sfmg LLC now owns 2,940 shares of the pharmacy operator’s stock valued at $231,000 after buying an additional 199 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.
CVS Health Corporation (CVS) traded up 0.09% during mid-day trading on Friday, hitting $79.63. 6,534,109 shares of the stock were exchanged. The stock has a market cap of $80.95 billion, a PE ratio of 15.86 and a beta of 0.92. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $90.85. The stock’s 50 day moving average is $79.11 and its 200 day moving average is $78.98.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.32 earnings per share. Analysts forecast that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
In other news, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard J. Swift sold 2,500 shares of the firm’s 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 transaction, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 716,411 shares of company stock worth $58,277,271. Insiders own 0.61% of the company’s stock.
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A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. lowered their target price on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Royal Bank Of Canada assumed coverage on shares of CVS Health Corporation in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price on the stock. Jefferies Group LLC lifted their target price on shares of CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, September 15th. Finally, Wolfe Research cut shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $89.00 to $82.00 in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $90.58.
About CVS Health Corporation
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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