Gofen & Glossberg LLC IL Has $2.93 Million Stake in CVS Health Co. (NYSE:CVS)

Gofen & Glossberg LLC IL increased its holdings in shares of CVS Health Co. (NYSE:CVSGet Rating) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 31,649 shares of the pharmacy operator’s stock after purchasing an additional 267 shares during the period. Gofen & Glossberg LLC IL’s holdings in CVS Health were worth $2,933,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arlington Partners LLC grew its stake in shares of CVS Health by 23.4% in the first quarter. Arlington Partners LLC now owns 528 shares of the pharmacy operator’s stock worth $53,000 after acquiring an additional 100 shares during the last quarter. Wiley BROS. Aintree Capital LLC raised its stake in shares of CVS Health by 4.6% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 2,265 shares of the pharmacy operator’s stock valued at $229,000 after buying an additional 100 shares in the last quarter. Palladium Partners LLC raised its stake in shares of CVS Health by 2.8% in the 1st quarter. Palladium Partners LLC now owns 3,687 shares of the pharmacy operator’s stock valued at $373,000 after buying an additional 100 shares in the last quarter. Tortoise Investment Management LLC raised its stake in shares of CVS Health by 6.6% in the 1st quarter. Tortoise Investment Management LLC now owns 1,612 shares of the pharmacy operator’s stock valued at $163,000 after buying an additional 100 shares in the last quarter. Finally, Keudell Morrison Wealth Management increased its position in shares of CVS Health by 3.2% during the 1st quarter. Keudell Morrison Wealth Management now owns 3,266 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

CVS Health Trading Up 0.1 %

Shares of CVS Health stock opened at $99.83 on Friday. The company has a market capitalization of $131.06 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.52 and a beta of 0.73. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67. CVS Health Co. has a 12-month low of $81.78 and a 12-month high of $111.25. The firm’s 50-day moving average price is $100.14 and its two-hundred day moving average price is $99.28.

CVS Health (NYSE:CVSGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. The firm had revenue of $80.64 billion for the quarter, compared to the consensus estimate of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. On average, analysts forecast that CVS Health Co. will post 8.53 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 21st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.20%. CVS Health’s payout ratio is currently 35.77%.

Insider Activity

In other news, EVP Thomas M. Moriarty sold 138,654 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total value of $13,172,130.00. Following the sale, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Alan Lotvin sold 22,541 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the completion of the transaction, the executive vice president now owns 109,183 shares in the company, valued at approximately $11,355,032. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas M. Moriarty sold 138,654 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the transaction, the executive vice president now owns 626,273 shares of the company’s stock, valued at approximately $59,495,935. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of CVS Health from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $122.00 to $112.00 in a research report on Thursday, May 26th. UBS Group raised their price objective on shares of CVS Health from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Credit Suisse Group raised their price objective on shares of CVS Health from $113.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Tigress Financial raised their price objective on shares of CVS Health from $125.00 to $130.00 in a research report on Wednesday, August 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of CVS Health from $113.00 to $120.00 in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.59.

CVS Health Company Profile

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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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