The 57 Shares of CVS Health Corporation (CVS) are sold by Park Avenue Securities LLC

The 57 Shares of CVS Health Corporation (CVS) are sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,108 shares of the pharmacy operator’s stock after selling 57 shares during the period. Park Avenue Securities LLC’s holdings in CVS Health Corporation were worth $200,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. Springbok Capital Management LLC raised its position in CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock valued at $117,000 after buying an additional 741 shares in the last quarter. MU Investments Co. Ltd. raised its position in CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock valued at $109,000 after buying an additional 440 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in CVS Health Corporation by 87.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,605 shares of the pharmacy operator’s stock valued at $154,000 after buying an additional 750 shares in the last quarter. Physicians Financial Services Inc. raised its position in CVS Health Corporation by 5.8% in the second quarter. Physicians Financial Services Inc. now owns 1,849 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 101 shares in the last quarter. Finally, Highland Private Wealth Management purchased a new position in CVS Health Corporation during the first quarter valued at approximately $198,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

CVS Health Corporation (NYSE:CVS) traded up 0.61% during trading on Thursday, reaching $88.00. The company’s stock had a trading volume of 6,109,100 shares. CVS Health Corporation has a 52 week low of $85.41 and a 52 week high of $106.67. The firm has a 50 day moving average of $90.51 and a 200 day moving average of $96.60. The stock has a market capitalization of $93.83 billion, a price-to-earnings ratio of 20.24 and a beta of 0.83.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, topping the consensus estimate of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The business had revenue of $43.70 billion for the quarter, compared to analysts’ expectations of $44.28 billion. During the same quarter last year, the company posted $1.19 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. Analysts expect that CVS Health Corporation will post $5.86 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.70 annualized dividend and a dividend yield of 1.93%. CVS Health Corporation’s payout ratio is 39.08%.

CVS has been the subject of several research analyst reports. Morgan Stanley lowered CVS Health Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $111.00 to $104.00 in a research report on Monday, June 20th. Credit Suisse Group AG restated an “outperform” rating and set a $110.00 price target (down from $115.00) on shares of CVS Health Corporation in a research report on Tuesday, October 4th. Robert W. Baird lowered their price target on CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, October 3rd. Leerink Swann restated an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of CVS Health Corporation in a research report on Sunday, October 2nd. Finally, Jefferies Group restated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 4th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus 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.

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