CVS Health Co. (NYSE:CVS) Shares Sold by Legacy Capital Group California Inc.

by · The Markets Daily

Legacy Capital Group California Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,322 shares of the pharmacy operator’s stock after selling 386 shares during the period. Legacy Capital Group California Inc.’s holdings in CVS Health were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the 3rd quarter worth about $31,000. First Community Trust NA raised its position in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health during the third quarter valued at approximately $33,000. ORG Partners LLC grew its stake in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in CVS Health by 71.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 247 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS Health stock opened at $56.11 on Friday. The company has a market cap of $70.44 billion, a PE ratio of 9.86, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a fifty day moving average price of $59.88 and a two-hundred day moving average price of $60.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share. Research analysts expect that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Analyst Ratings Changes

A number of brokerages have recently commented on CVS. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Barclays lowered their target price on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Mizuho cut their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.58.

Check Out Our Latest Stock Analysis on CVS Health

About CVS Health

(Free Report)

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

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