Today, Cordasco Financial Network Continues to Hold Stake in CVS Health Corporation (CVS)

Today, Cordasco Financial Network Continues to Hold Stake in CVS Health Corporation (CVS)

Cordasco Financial Network held its position in CVS Health Corporation (NYSE:CVS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,600 shares of the pharmacy operator’s stock at the end of the third quarter. Cordasco Financial Network’s holdings in CVS Health Corporation were worth $249,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. East Coast Asset Management LLC. raised 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 worth $233,000 after buying an additional 7 shares during the period. Valley National Advisers Inc. raised 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 worth $171,000 after buying an additional 9 shares during the period. Signature Financial Management Inc. raised its stake in CVS Health Corporation by 0.3% in the third quarter. Signature Financial Management Inc. now owns 3,400 shares of the pharmacy operator’s stock worth $303,000 after buying an additional 9 shares during the period. Lourd Capital LLC raised 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 worth $344,000 after buying an additional 11 shares during the period. Finally, Thompson Davis & CO. Inc. raised 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 worth $249,000 after buying an additional 14 shares during the period. 81.78% of the stock is owned by hedge funds and other 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. The company has a 50 day moving average of $81.80 and a 200-day moving average of $91.85. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $106.67. The stock has a market capitalization of $78.98 billion, a PE ratio of 15.87 and a beta of 0.88.

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

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

CVS has been the topic of a number of analyst reports. Mizuho raised their price objective on shares of CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Citigroup Inc. reduced their price objective on shares of CVS Health Corporation from $115.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday, August 8th. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $98.36 price objective on the stock in a report on Monday, October 24th. Leerink Swann restated a “buy” rating on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $115.00 price objective on shares of CVS Health Corporation in a report on Tuesday, September 20th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus 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.

Related posts

Leave a Comment