Welch & Forbes LLC lessened its holdings in shares of CVS Health Corp (NYSE:CVS) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 197,912 shares of the pharmacy operator’s stock after selling 16,609 shares during the quarter. Welch & Forbes LLC’s holdings in CVS Health were worth $15,579,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Adviser Investments LLC increased its holdings in shares of CVS Health by 43.3% during the 2nd quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock worth $193,000 after buying an additional 905 shares during the last quarter. Keystone Financial Planning Inc. increased its holdings in shares of CVS Health by 44.5% during the 2nd quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock worth $3,799,000 after buying an additional 18,176 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of CVS Health by 4.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock worth $471,857,000 after buying an additional 300,887 shares during the last quarter. Waddell & Reed Financial Inc. increased its holdings in shares of CVS Health by 21.5% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock worth $63,925,000 after buying an additional 175,725 shares during the last quarter. Finally, Point View Wealth Management Inc. increased its holdings in shares of CVS Health by 8.4% during the 2nd quarter. Point View Wealth Management Inc. now owns 17,095 shares of the pharmacy operator’s stock worth $1,100,000 after buying an additional 1,320 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Shares of NYSE CVS opened at $74.53 on Friday. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $83.88. The firm has a market capitalization of $75.70 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.99 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The firm had revenue of $46.71 billion during the quarter, compared to the consensus estimate of $46.34 billion. During the same period in the prior year, the firm earned $1.33 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.68%. CVS Health’s dividend payout ratio is currently 33.90%.

CVS has been the subject of a number of research analyst reports. Royal Bank of Canada restated a “buy” rating and set a $90.00 price objective on shares of CVS Health in a report on Wednesday, August 8th. Citigroup restated a “buy” rating and set a $81.00 price objective on shares of CVS Health in a report on Monday, July 9th. Mizuho restated a “buy” rating on shares of CVS Health in a report on Saturday, June 30th. Bank of America upped their price objective on CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Finally, ValuEngine upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $86.31.

In other news, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now directly owns 12,135 shares in the company, valued at $910,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the sale, the executive vice president now owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is owned by insiders.

CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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

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