Norway Savings Bank Increases Stake in CVS Health Co. (NYSE:CVS)

Norway Savings Bank lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,120 shares of the pharmacy operator’s stock after buying an additional 644 shares during the quarter. CVS Health comprises 1.1% of Norway Savings Bank’s portfolio, making the stock its 24th largest position. Norway Savings Bank’s holdings in CVS Health were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1ST Source Bank increased its stake in shares of CVS Health by 1.1% in the second quarter. 1ST Source Bank now owns 10,575 shares of the pharmacy operator’s stock worth $882,000 after purchasing an additional 120 shares in the last quarter. Claro Advisors LLC increased its stake in shares of CVS Health by 1.3% in the second quarter. Claro Advisors LLC now owns 9,873 shares of the pharmacy operator’s stock worth $824,000 after purchasing an additional 124 shares in the last quarter. Hall Capital Management Co. Inc. increased its stake in shares of CVS Health by 2.3% in the third quarter. Hall Capital Management Co. Inc. now owns 5,540 shares of the pharmacy operator’s stock worth $470,000 after purchasing an additional 124 shares in the last quarter. Valley Brook Capital Group Inc. increased its stake in shares of CVS Health by 1.4% in the second quarter. Valley Brook Capital Group Inc. now owns 8,891 shares of the pharmacy operator’s stock worth $741,000 after purchasing an additional 125 shares in the last quarter. Finally, First Horizon Corp increased its stake in shares of CVS Health by 12.4% in the second quarter. First Horizon Corp now owns 1,141 shares of the pharmacy operator’s stock worth $95,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 75.99% of the company’s stock.

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of CVS Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of CVS Health from $101.00 to $107.00 and gave the company a “buy” rating in a research note on Friday, November 5th. Raymond James raised their target price on shares of CVS Health from $95.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 4th. Credit Suisse Group raised their target price on shares of CVS Health from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, November 5th. Finally, Royal Bank of Canada raised their target price on shares of CVS Health from $97.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, November 4th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $104.11.

In other news, EVP Troyen A. Brennan sold 28,159 shares of CVS Health stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $90.00, for a total value of $2,534,310.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan C. Roberts sold 108,870 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $95.00, for a total transaction of $10,342,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 222,411 shares of company stock worth $20,387,951 in the last three months. Insiders own 0.69% of the company’s stock.

CVS Health stock opened at $92.65 on Thursday. CVS Health Co. has a 12-month low of $67.06 and a 12-month high of $96.57. The firm has a 50-day moving average price of $88.26 and a 200-day moving average price of $85.75. The firm has a market capitalization of $122.30 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.74 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.76.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.18. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. The company had revenue of $73.79 billion during the quarter, compared to analyst estimates of $70.52 billion. During the same quarter last year, the business posted $1.66 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health Co. will post 7.97 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 1st. Shareholders of record on Friday, October 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, October 21st. CVS Health’s dividend payout ratio (DPR) is 34.97%.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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

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