Whitnell & Co. Boosts Stake in CVS Health Corp (NYSE:CVS)

Whitnell & Co. grew its stake in shares of CVS Health Corp (NYSE:CVS) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,091 shares of the pharmacy operator’s stock after buying an additional 4,546 shares during the quarter. CVS Health accounts for 1.2% of Whitnell & Co.’s investment portfolio, making the stock its 28th biggest position. Whitnell & Co.’s holdings in CVS Health were worth $3,538,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CVS. Nuveen Asset Management LLC raised its position in shares of CVS Health by 16,194.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock valued at $659,986,000 after buying an additional 12,037,713 shares in the last quarter. Morgan Stanley raised its position in shares of CVS Health by 12.8% during the 2nd quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock valued at $750,088,000 after buying an additional 1,560,142 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of CVS Health by 10.9% during the 2nd quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock valued at $757,707,000 after buying an additional 1,372,275 shares in the last quarter. Prudential PLC raised its position in shares of CVS Health by 54.8% during the 2nd quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock valued at $203,137,000 after buying an additional 1,323,366 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of CVS Health by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after buying an additional 1,167,143 shares in the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.

In related news, CFO Eva C. Boratto sold 8,130 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the sale, the chief financial officer now owns 55,273 shares of the company’s stock, valued at $3,592,745. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Troyen A. Brennan sold 23,604 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the sale, the executive vice president now directly owns 107,921 shares in the company, valued at approximately $7,338,628. The disclosure for this sale can be found here. Insiders have sold a total of 49,437 shares of company stock worth $3,248,811 in the last ninety days. Insiders own 0.53% of the company’s stock.

Shares of CVS traded up $0.69 during trading hours on Friday, reaching $72.47. 9,079,719 shares of the company traded hands, compared to its average volume of 6,966,567. The company’s fifty day moving average price is $64.66 and its two-hundred day moving average price is $58.54. The company has a market capitalization of $87.55 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The firm had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The company’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. On average, analysts expect that CVS Health Corp will post 6.99 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 23rd. CVS Health’s payout ratio is 28.25%.

A number of equities analysts recently commented on the stock. Wells Fargo & Co lifted their target price on shares of CVS Health from $62.00 to $72.00 and gave the stock a “market perform” rating in a research report on Friday. Royal Bank of Canada began coverage on shares of CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price target on the stock. UBS Group reissued a “buy” rating and issued a $78.00 price target on shares of CVS Health in a report on Thursday. Mizuho raised their price target on shares of CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup raised their price target on shares of CVS Health from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $77.59.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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