The Community Bank & Trust Waco Texas Boosts Position in CVS Health Corporation (CVS)

The Community Bank & Trust Waco Texas Boosts Position in CVS Health Corporation (CVS)

Community Bank & Trust Waco Texas boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,392 shares of the pharmacy operator’s stock after buying an additional 1,106 shares during the period. CVS Health Corporation accounts for about 2.0% of Community Bank & Trust Waco Texas’ investment portfolio, making the stock its 10th largest position. Community Bank & Trust Waco Texas’ holdings in CVS Health Corporation were worth $3,580,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of CVS Health Corporation during the second quarter valued at approximately $438,948,000. Nordea Investment Management AB raised its stake in shares of CVS Health Corporation by 61.3% in the second quarter. Nordea Investment Management AB now owns 11,644,431 shares of the pharmacy operator’s stock valued at $1,114,838,000 after buying an additional 4,423,216 shares during the last quarter. Credit Agricole S A raised its stake in shares of CVS Health Corporation by 112.8% in the first quarter. Credit Agricole S A now owns 2,492,231 shares of the pharmacy operator’s stock valued at $258,521,000 after buying an additional 1,320,987 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of CVS Health Corporation during the first quarter valued at approximately $125,795,000. Finally, State Street Corp raised its stake in shares of CVS Health Corporation by 2.4% in the first quarter. State Street Corp now owns 44,552,112 shares of the pharmacy operator’s stock valued at $4,621,391,000 after buying an additional 1,023,799 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

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

CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, beating the Thomson Reuters’ 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 firm earned $43.70 billion during the quarter, compared to the consensus estimate of $44.28 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts expect that CVS Health Corporation will post $5.86 earnings per share for the current year.

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

A number of research analysts recently commented on CVS shares. Morgan Stanley lowered shares of CVS Health Corporation from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $111.00 to $104.00 in a research note on Monday, June 20th. Credit Suisse Group AG reiterated an “outperform” rating and set a $110.00 price objective (down previously from $115.00) on shares of CVS Health Corporation in a research note on Tuesday, October 4th. Robert W. Baird lowered their price objective on shares of CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, October 3rd. Leerink Swann reiterated an “outperform” rating and set a $105.00 price objective (down previously from $110.00) on shares of CVS Health Corporation in a research note on Sunday, October 2nd. Finally, Jefferies Group reiterated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus 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.

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