Connable Office Inc. reduced its stake in CVS Health Corporation (NYSE:CVS) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,245 shares of the pharmacy operator’s stock after selling 124 shares during the quarter. Connable Office Inc.’s holdings in CVS Health Corporation were worth $1,870,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVS. Gemmer Asset Management LLC raised its holdings in CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after purchasing an additional 200 shares during the period. TB Alternative Assets Ltd. bought a new position in CVS Health Corporation in the 2nd quarter worth $121,000. SRS Capital Advisors Inc. raised its holdings in CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after purchasing an additional 734 shares during the period. Grace & White Inc. NY bought a new position in CVS Health Corporation in the 2nd quarter worth $199,000. Finally, Nadler Financial Group Inc. bought a new position in CVS Health Corporation in the 2nd quarter worth $202,000. 81.51% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on CVS shares. Royal Bank of Canada started coverage on CVS Health Corporation in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. Leerink Swann set a $90.00 target price on CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Robert W. Baird reissued an “outperform” rating and set a $90.00 price target on shares of CVS Health Corporation in a report on Monday, August 14th. Loop Capital initiated coverage on CVS Health Corporation in a report on Thursday, August 24th. They set a “hold” rating and a $83.00 price target on the stock. Finally, Jefferies Group LLC raised their price target on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. CVS Health Corporation has an average rating of “Buy” and a consensus target price of $90.23.

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In related news, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 716,625 shares of company stock valued at $58,318,431. 0.61% of the stock is owned by corporate insiders.

CVS Health Corporation (CVS) opened at 72.60 on Friday. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $88.84. The company has a 50-day moving average price of $79.27 and a 200 day moving average price of $78.87. The stock has a market cap of $73.80 billion, a price-to-earnings ratio of 14.46 and a beta of 0.92.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the prior year, the company earned $1.32 EPS. CVS Health Corporation’s revenue was up 4.5% compared to the same quarter last year. On average, analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.75%. CVS Health Corporation’s dividend payout ratio is presently 39.92%.

CVS Health Corporation Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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

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