The City Holding Co. invests in CVS Health Corporation (CVS) Shares

The City Holding Co. invests in CVS Health Corporation (CVS) Shares

City Holding Co. increased its stake in CVS Health Corporation (NYSE:CVS) by 41.3% during the third quarter, Holdings Channel reports. The institutional investor owned 15,329 shares of the pharmacy operator’s stock after buying an additional 4,479 shares during the period. City Holding Co.’s holdings in CVS Health Corporation were worth $1,364,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. East Coast Asset Management LLC. increased its stake in CVS Health Corporation by 0.3% in the second quarter. East Coast Asset Management LLC. now owns 2,431 shares of the pharmacy operator’s stock valued at $233,000 after buying an additional 7 shares during the period. Valley National Advisers Inc. increased its stake in CVS Health Corporation by 0.5% in the second quarter. Valley National Advisers Inc. now owns 1,790 shares of the pharmacy operator’s stock valued at $171,000 after buying an additional 9 shares during the period. Lourd Capital LLC increased its stake in CVS Health Corporation by 0.3% in the second quarter. Lourd Capital LLC now owns 3,598 shares of the pharmacy operator’s stock valued at $344,000 after buying an additional 11 shares during the period. Thompson Davis & CO. Inc. increased its stake in CVS Health Corporation by 0.5% in the second quarter. Thompson Davis & CO. Inc. now owns 2,606 shares of the pharmacy operator’s stock valued at $249,000 after buying an additional 14 shares during the period. Finally, Burke & Herbert Bank & Trust Co. increased its stake in CVS Health Corporation by 0.3% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 6,250 shares of the pharmacy operator’s stock valued at $556,000 after buying an additional 21 shares during the period. 81.78% of the stock is currently owned by institutional investors.

Shares of CVS Health Corporation (NYSE:CVS) traded up 0.53% on Friday, reaching $74.06. 3,529,190 shares of the company’s stock traded hands. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $106.67. The stock’s 50-day moving average price is $81.80 and its 200-day moving average price is $91.85. The stock has a market capitalization of $78.98 billion, a price-to-earnings ratio of 15.87 and a beta of 0.88.

CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.07. The company earned $44.60 billion during the quarter, compared to analysts’ expectations of $45.29 billion. CVS Health Corporation had a return on equity of 17.18% and a net margin of 2.96%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS. Equities analysts predict that CVS Health Corporation will post $5.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Thursday, October 20th. CVS Health Corporation’s dividend payout ratio (DPR) is currently 36.40%.

A number of analysts recently issued reports on CVS shares. FBR & Co reissued an “outperform” rating and set a $120.00 price target on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Deutsche Bank AG increased their price target on shares of CVS Health Corporation from $99.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Morgan Stanley reissued a “hold” rating and set a $104.00 price target on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Finally, Leerink Swann reissued a “buy” rating on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CVS Health Corporation currently has an average rating of “Buy” and an average target price 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.

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