Raymond James Trust N.A. cut its position in CVS Health Corporation (NYSE:CVS) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 97,084 shares of the pharmacy operator’s stock after selling 1,715 shares during the period. CVS Health Corporation comprises approximately 0.7% of Raymond James Trust N.A.’s investment portfolio, making the stock its 29th largest position. Raymond James Trust N.A.’s holdings in CVS Health Corporation were worth $8,640,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVS. Bridge Creek Capital Management LLC increased its position in shares of CVS Health Corporation by 0.5% in the second quarter. Bridge Creek Capital Management LLC now owns 39,538 shares of the pharmacy operator’s stock worth $3,785,000 after buying an additional 179 shares in the last quarter. Ngam Advisors L.P. increased its position in shares of CVS Health Corporation by 1.9% in the second quarter. Ngam Advisors L.P. now owns 233,294 shares of the pharmacy operator’s stock worth $22,336,000 after buying an additional 4,315 shares in the last quarter. BP PLC increased its position in shares of CVS Health Corporation by 17.9% in the second quarter. BP PLC now owns 138,000 shares of the pharmacy operator’s stock worth $13,211,000 after buying an additional 21,000 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of CVS Health Corporation by 8.7% in the second quarter. Retirement Systems of Alabama now owns 1,043,349 shares of the pharmacy operator’s stock worth $99,890,000 after buying an additional 83,608 shares in the last quarter. Finally, Veritas Asset Management LLP increased its position in shares of CVS Health Corporation by 10.1% in the second quarter. Veritas Asset Management LLP now owns 4,808,477 shares of the pharmacy operator’s stock worth $460,364,000 after buying an additional 439,848 shares in the last quarter. 80.44% of the stock is owned by institutional investors.

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

Shares of CVS Health Corporation (NYSE:CVS) traded up 1.390% on Wednesday, reaching $76.935. The company’s stock had a trading volume of 7,303,680 shares. The company has a 50 day moving average of $81.47 and a 200 day moving average of $91.44. The stock has a market capitalization of $82.05 billion, a P/E ratio of 16.488 and a beta of 0.88. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $106.67.

CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.07. The business had revenue of $44.60 billion for the quarter, compared to analyst estimates of $45.29 billion. CVS Health Corporation had a return on equity of 17.18% and a net margin of 2.96%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. Equities research analysts expect that CVS Health Corporation will post $5.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Thursday, October 20th. CVS Health Corporation’s payout ratio is currently 36.40%.

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Several equities analysts have recently issued reports on the stock. Mizuho restated a “buy” rating and set a $111.00 price objective on shares of CVS Health Corporation in a report on Friday, September 30th. Credit Suisse Group AG restated a “buy” rating and set a $115.00 price objective on shares of CVS Health Corporation in a report on Tuesday, September 20th. Argus restated a “buy” rating and set a $120.00 price objective on shares of CVS Health Corporation in a report on Thursday, August 4th. Leerink Swann restated a “buy” rating on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Finally, Vetr upgraded shares of CVS Health Corporation from a “hold” rating to a “buy” rating and set a $94.49 price objective on the stock in a report on Monday, October 10th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $106.24.

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.

5 Day Chart for NYSE:CVS

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