10,164 Shares in CVS Health Corporation $CVS Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new position in shares of CVS Health Corporation (NYSE:CVS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,164 shares of the pharmacy operator’s stock, valued at approximately $890,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of CVS Health in the second quarter valued at $12,747,462,000. State Street Corp boosted its position in shares of CVS Health by 26.3% in the 2nd quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator’s stock worth $7,751,205,000 after buying an additional 15,604,883 shares in the last quarter. Bank of America Corp DE grew its stake in CVS Health by 148.0% in the 2nd quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator’s stock valued at $2,398,868,000 after acquiring an additional 13,836,701 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in CVS Health in the 2nd quarter valued at about $1,217,558,000. Finally, Wellington Management Group LLP grew its stake in CVS Health by 49.8% in the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock valued at $3,496,725,000 after acquiring an additional 11,233,381 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Leerink Partners cut their target price on shares of CVS Health from $112.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 5th. Wall Street Zen lowered shares of CVS Health from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Evercore restated an “outperform” rating on shares of CVS Health in a research report on Wednesday, November 4th. Finally, Argus upped their target price on CVS Health from $104.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Twenty-three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

CVS Health News Roundup

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Zacks upgraded CVS to Rank #2 (Buy), citing improving optimism about the company’s earnings prospects. Article: All You Need to Know About CVS Health Rating Upgrade to Buy
• Positive Sentiment: Incoming CVS Pharmacy CEO Prem Shah reportedly purchased about $2 million of CVS shares, a notable show of confidence from an executive expected to lead one of the businesses after the separation. Article: CVS Health’s Future Pharmacy CEO Just Bought $2 Million of Stock
• Neutral Sentiment: CVS has announced plans to split into two companies by 2028. The restructuring could let each business focus more clearly on its operations, but the companies’ structure and the benefits to shareholders remain important unanswered questions. Article: CVS Health Announces Plan to Split Into Two Companies
• Negative Sentiment: Analyst estimates have become more cautious as the separation plan is factored in. One fair-value estimate was trimmed from $116.28 to $113.76, with execution risk and valuation concerns weighing on the outlook. Article: CVS Health Stock Fair Value Edges Lower on Separation Risk and Analyst Caution

Insider Buying and Selling

In other CVS Health news, EVP Prem Shah purchased 23,855 shares of the business’s stock in a transaction on Friday, November 6th. The stock was bought at an average cost of $83.89 per share, for a total transaction of $2,001,195.95. Following the acquisition, the executive vice president owned 88,516 shares of the company’s stock, valued at approximately $7,425,607.24. The trade was a 36.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.85% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $89.03 on Wednesday. The firm has a market cap of $113.92 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.74 and a beta of 0.58. The company has a current ratio of 0.85, a quick ratio of 0.66 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average is $90.12 and its two-hundred day moving average is $88.94. CVS Health Corporation has a 12-month low of $69.51 and a 12-month high of $110.68.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 4th. The pharmacy operator reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.44. The business had revenue of $108.40 billion during the quarter, compared to the consensus estimate of $104.72 billion. CVS Health had a net margin of 2.62% and a return on equity of 13.65%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. Research analysts expect that CVS Health Corporation will post 8.25 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were paid a $0.6650 dividend. This represents a $2.66 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 22nd. CVS Health’s payout ratio is presently 30.97%.

About CVS Health

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.