Today, Salem Capital Management Inc. Sold shares of CVS Health Corporation (CVS)

Today, Salem Capital Management Inc. Sold shares of CVS Health Corporation (CVS)

Salem Capital Management Inc. decreased its position in CVS Health Corporation (NYSE:CVS) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 76,230 shares of the pharmacy operator’s stock after selling 200 shares during the period. CVS Health Corporation makes up 3.7% of Salem Capital Management Inc.’s holdings, making the stock its 9th largest position. Salem Capital Management Inc.’s holdings in CVS Health Corporation were worth $6,784,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in CVS Health Corporation by 542.2% in the second quarter. Acrospire Investment Management LLC now owns 1,066 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 900 shares during the last quarter. MU Investments Co. Ltd. increased 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 worth $109,000 after buying an additional 440 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its position in CVS Health Corporation by 3,475.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,144 shares of the pharmacy operator’s stock worth $110,000 after buying an additional 1,112 shares in the last quarter. D Orazio & Associates Inc. increased its position in CVS Health Corporation by 9.4% in the second quarter. D Orazio & Associates Inc. now owns 1,160 shares of the pharmacy operator’s stock worth $111,000 after buying an additional 100 shares in the last quarter. Finally, Cantab Capital Partners LLP increased its position in CVS Health Corporation by 355.4% in the second quarter. Cantab Capital Partners LLP now owns 1,184 shares of the pharmacy operator’s stock worth $113,000 after buying an additional 924 shares in the last quarter. 80.44% of the stock is owned by institutional investors and hedge funds.

Shares of CVS Health Corporation (NYSE:CVS) traded up 0.97% during trading on Monday, reaching $74.78. The company had a trading volume of 8,621,492 shares. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $106.67. The firm has a market capitalization of $79.75 billion, a P/E ratio of 16.03 and a beta of 0.88. The company has a 50 day moving average of $81.80 and a 200-day moving average of $91.85.

CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 EPS for the quarter, topping the consensus estimate of $1.57 by $0.07. The company had revenue of $44.60 billion for 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 for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. Equities analysts expect that CVS Health Corporation will post $5.81 earnings per share 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 issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, October 20th. CVS Health Corporation’s payout ratio is presently 36.40%.

A number of equities analysts have commented on the stock. Argus reaffirmed a “buy” rating and issued a $120.00 price objective on shares of CVS Health Corporation in a report on Thursday, August 4th. Leerink Swann reaffirmed a “buy” rating and issued a $105.00 price objective on shares of CVS Health Corporation in a report on Wednesday, November 9th. Barclays PLC reaffirmed a “buy” rating and issued a $85.00 price objective on shares of CVS Health Corporation in a report on Wednesday, November 9th. Zacks Investment Research raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Mizuho boosted their price target 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. Five equities research 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 stock. The company has a consensus 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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