Trade Report: The Burke & Herbert Bank & Trust Co. Acquires 943 Shares of CVS Health Corporation (CVS)

The Burke & Herbert Bank & Trust Co. Acquires 943 Shares of CVS Health Corporation (CVS)

Burke & Herbert Bank & Trust Co. increased its position in shares of CVS Health Corporation (NYSE:CVS) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,229 shares of the pharmacy operator’s stock after buying an additional 943 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in CVS Health Corporation were worth $596,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVS. Springbok Capital Management LLC increased its stake in shares of 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 worth $117,000 after buying an additional 741 shares during the period. MU Investments Co. Ltd. increased its stake in shares of 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 worth $109,000 after buying an additional 440 shares during the period. Arcadia Investment Management Corp MI increased its stake in shares of 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 worth $154,000 after buying an additional 750 shares during the period. Physicians Financial Services Inc. increased its stake in shares of 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 worth $177,000 after buying an additional 101 shares during the period. Finally, Highland Private Wealth Management bought a new stake in shares of CVS Health Corporation during the first quarter worth about $198,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

CVS Health Corporation (NYSE:CVS) traded up 0.91% during mid-day trading on Friday, hitting $88.80. 6,705,822 shares of the stock traded hands. The stock has a market cap of $94.68 billion, a PE ratio of 20.43 and a beta of 0.83. CVS Health Corporation has a 12-month low of $85.41 and a 12-month high of $106.67. The company has a 50 day moving average of $90.11 and a 200-day moving average of $96.45.

CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data 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 business earned $43.70 billion during the quarter, compared to analyst estimates of $44.28 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts forecast that CVS Health Corporation will post $5.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, October 20th. CVS Health Corporation’s payout ratio is 39.08%.

A number of equities research analysts have issued reports on the company. Leerink Swann restated a “buy” rating on shares of CVS Health Corporation in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. FBR & Co reissued an “outperform” rating and set a $120.00 price target on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Morgan Stanley restated a “hold” rating and set a $104.00 price objective on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG upped their price objective on CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company 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.

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