Huntington National Bank raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 437,266 shares of the pharmacy operator’s stock after buying an additional 43,152 shares during the period. CVS Health Corporation comprises about 1.0% of Huntington National Bank’s portfolio, making the stock its 18th largest position. Huntington National Bank’s holdings in CVS Health Corporation were worth $41,864,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CVS. Aperio Group LLC raised its stake in CVS Health Corporation by 3.9% in the first quarter. Aperio Group LLC now owns 745,921 shares of the pharmacy operator’s stock valued at $77,374,000 after buying an additional 28,013 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new stake in CVS Health Corporation during the first quarter valued at $2,526,000. Thomas White International Ltd. raised its stake in CVS Health Corporation by 24.7% in the first quarter. Thomas White International Ltd. now owns 24,532 shares of the pharmacy operator’s stock valued at $2,545,000 after buying an additional 4,866 shares during the last quarter. Virginia Retirement System acquired a new stake in CVS Health Corporation during the first quarter valued at $37,066,000. Finally, BTC Capital Management Inc. raised its stake in CVS Health Corporation by 4.3% in the first quarter. BTC Capital Management Inc. now owns 61,399 shares of the pharmacy operator’s stock valued at $6,369,000 after buying an additional 2,543 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.91% during trading on Friday, hitting $88.80. The stock had a trading volume of 6,705,822 shares. The firm has a 50 day moving average of $90.11 and a 200 day moving average of $96.45. CVS Health Corporation has a 1-year low of $85.41 and a 1-year high of $106.67. The company has a market capitalization of $94.68 billion, a price-to-earnings ratio of 20.43 and a beta of 0.83.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.02. The business had revenue of $43.70 billion for the quarter, compared to analysts’ expectations of $44.28 billion. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share. Analysts expect that CVS Health Corporation will post $5.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, October 20th. CVS Health Corporation’s dividend payout ratio is 39.08%.
CVS has been the subject of several recent research reports. Morgan Stanley lowered shares of CVS Health Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $111.00 to $104.00 in a research note on Monday, June 20th. Deutsche Bank AG upped their price target on shares of CVS Health Corporation from $99.00 to $105.00 and gave the stock a “hold” rating in a research report on Wednesday, June 22nd. Mizuho restated a “buy” rating and set a $108.00 price target (down previously from $117.00) on shares of CVS Health Corporation in a research report on Thursday, June 23rd. Jefferies Group restated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 4th. Finally, Vetr lowered shares of CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 price target for the company. in a research report on Monday, July 25th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. CVS Health Corporation presently has an average rating of “Buy” and an average target price of $112.40.
About CVS Health Corporation
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.
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS).
Receive News & Ratings for CVS Health Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health Corporation and related companies with MarketBeat.com's FREE daily email newsletter.