Advisors Asset Management Inc. reduced its position in CVS Health Corporation (NYSE:CVS) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,847 shares of the pharmacy operator’s stock after selling 16,054 shares during the period. Advisors Asset Management Inc.’s holdings in CVS Health Corporation were worth $16,450,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Springbok Capital Management LLC raised its stake in shares of CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock worth $117,000 after buying an additional 741 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in shares of CVS Health Corporation during the first quarter worth about $575,000. BNP Paribas Arbitrage SA raised its stake in shares of CVS Health Corporation by 18.5% in the second quarter. BNP Paribas Arbitrage SA now owns 352,871 shares of the pharmacy operator’s stock worth $33,784,000 after buying an additional 55,145 shares in the last quarter. M. Kraus & Co raised its stake in shares of CVS Health Corporation by 2.2% in the second quarter. M. Kraus & Co now owns 37,114 shares of the pharmacy operator’s stock worth $3,553,000 after buying an additional 800 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of CVS Health Corporation by 9.4% in the second quarter. Fulton Bank N.A. now owns 28,840 shares of the pharmacy operator’s stock worth $2,761,000 after buying an additional 2,478 shares in the last quarter. 80.44% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of CVS Health Corporation (NYSE:CVS) traded up 1.141% during midday trading on Monday, reaching $74.905. The company’s stock had a trading volume of 5,764,317 shares. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $106.67. The firm has a market capitalization of $79.88 billion, a price-to-earnings ratio of 16.053 and a beta of 0.88. The firm’s 50 day moving average is $81.80 and its 200 day moving average is $91.85.

CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.07. The firm earned $44.60 billion during the quarter, compared to the consensus estimate of $45.29 billion. CVS Health Corporation had a return on equity of 17.18% and a net margin of 2.96%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 earnings per share. Equities analysts forecast that CVS Health Corporation will post $5.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th were given a $0.425 dividend. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.70 dividend on an annualized basis and a yield of 2.28%. CVS Health Corporation’s dividend payout ratio (DPR) is 36.40%.

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CVS has been the topic of a number of research analyst reports. FBR & Co reaffirmed an “outperform” rating and issued a $120.00 price target on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Zacks Investment Research raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Deutsche Bank AG boosted their price objective on CVS Health Corporation from $99.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Morgan Stanley reissued a “hold” rating and set a $104.00 price objective on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Finally, Leerink Swann reissued a “buy” rating on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $106.24.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

5 Day Chart for NYSE:CVS

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