RBA Wealth Management LLC Has $4.48 Million Stock Position in CVS Health Co. (NYSE:CVS)

RBA Wealth Management LLC lifted its position in shares of CVS Health Co. (NYSE:CVSGet Rating) by 2.1% in the first quarter, Holdings Channel reports. The institutional investor owned 44,221 shares of the pharmacy operator’s stock after acquiring an additional 905 shares during the period. CVS Health makes up about 2.2% of RBA Wealth Management LLC’s portfolio, making the stock its 11th largest position. RBA Wealth Management LLC’s holdings in CVS Health were worth $4,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Norges Bank bought a new position in shares of CVS Health in the fourth quarter worth $1,346,805,000. Veritas Asset Management LLP increased its position in shares of CVS Health by 30.1% in the fourth quarter. Veritas Asset Management LLP now owns 14,514,784 shares of the pharmacy operator’s stock worth $1,497,345,000 after purchasing an additional 3,361,760 shares during the period. Boston Partners increased its position in shares of CVS Health by 39.6% in the fourth quarter. Boston Partners now owns 6,686,484 shares of the pharmacy operator’s stock worth $689,710,000 after purchasing an additional 1,895,954 shares during the period. State Street Corp increased its position in shares of CVS Health by 2.8% in the fourth quarter. State Street Corp now owns 56,810,314 shares of the pharmacy operator’s stock worth $5,860,552,000 after purchasing an additional 1,560,168 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of CVS Health in the fourth quarter worth $155,922,000. 78.00% of the stock is owned by institutional investors.

In other news, EVP Daniel P. Finke sold 55,359 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $100.13, for a total transaction of $5,543,096.67. Following the transaction, the executive vice president now directly owns 3,098 shares of the company’s stock, valued at $310,202.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Prem S. Shah sold 5,346 shares of the company’s stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $104.70, for a total value of $559,726.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,659 shares of company stock worth $7,882,993. Insiders own 0.69% of the company’s stock.

A number of research firms have issued reports on CVS. Sanford C. Bernstein cut CVS Health from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $122.00 to $112.00 in a research report on Thursday, May 26th. Tigress Financial lifted their target price on CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Loop Capital started coverage on CVS Health in a research report on Thursday, June 16th. They issued a “buy” rating and a $120.00 target price on the stock. StockNews.com started coverage on CVS Health in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on CVS Health from $110.00 to $113.00 in a report on Thursday, May 5th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $116.05.

CVS traded up $0.69 during trading on Thursday, hitting $91.98. The company’s stock had a trading volume of 84,103 shares, compared to its average volume of 4,455,777. CVS Health Co. has a twelve month low of $79.33 and a twelve month high of $111.25. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $97.08 and its 200-day moving average price is $101.42. The firm has a market capitalization of $120.61 billion, a P/E ratio of 15.16, a PEG ratio of 1.44 and a beta of 0.78.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.08. CVS Health had a return on equity of 15.33% and a net margin of 2.67%. The firm had revenue of $76.83 billion for the quarter, compared to analyst estimates of $75.30 billion. During the same period in the previous year, the firm earned $2.04 earnings per share. The company’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts expect that CVS Health Co. will post 8.34 EPS for the current fiscal year.

CVS Health Company Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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

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