Great West Life Assurance Co. Can Has $110.50 Million Stock Position in CVS Health Co. (NYSE:CVS)

Great West Life Assurance Co. Can lifted its holdings in CVS Health Co. (NYSE:CVS) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,325,002 shares of the pharmacy operator’s stock after acquiring an additional 68,515 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.10% of CVS Health worth $110,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. 1ST Source Bank increased its position in CVS Health by 1.1% during the second quarter. 1ST Source Bank now owns 10,575 shares of the pharmacy operator’s stock valued at $882,000 after acquiring an additional 120 shares during the last quarter. Valley Brook Capital Group Inc. boosted its stake in shares of CVS Health by 1.4% during the second quarter. Valley Brook Capital Group Inc. now owns 8,891 shares of the pharmacy operator’s stock valued at $741,000 after purchasing an additional 125 shares during the period. First Horizon Corp lifted its stake in CVS Health by 12.4% in the second quarter. First Horizon Corp now owns 1,141 shares of the pharmacy operator’s stock worth $95,000 after acquiring an additional 126 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in CVS Health by 1.9% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 7,078 shares of the pharmacy operator’s stock worth $591,000 after acquiring an additional 131 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in CVS Health by 2.2% in the first quarter. Ritholtz Wealth Management now owns 6,155 shares of the pharmacy operator’s stock worth $463,000 after purchasing an additional 132 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

CVS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CVS Health from $95.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Tigress Financial reiterated a “buy” rating and set a $108.00 target price on shares of CVS Health in a research report on Friday, July 23rd. Finally, Morgan Stanley raised their price objective on CVS Health from $99.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, August 31st. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Buy” and an average price target of $94.89.

Shares of NYSE:CVS traded up $0.78 during trading on Wednesday, reaching $84.71. The company had a trading volume of 111,441 shares, compared to its average volume of 6,431,337. The firm has a market capitalization of $111.78 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.67. The stock’s fifty day moving average price is $83.99 and its 200 day moving average price is $81.58. CVS Health Co. has a fifty-two week low of $55.36 and a fifty-two week high of $90.61.

CVS Health (NYSE:CVS) last released its earnings results on Tuesday, August 3rd. The pharmacy operator reported $2.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.35. CVS Health had a return on equity of 13.81% and a net margin of 2.59%. The business had revenue of $72.62 billion for the quarter, compared to analyst estimates of $70.27 billion. During the same quarter in the previous year, the company posted $2.62 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Co. will post 7.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 23rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, July 22nd. CVS Health’s dividend payout ratio is presently 26.67%.

In other news, EVP Troyen A. Brennan sold 2,625 shares of the company’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $87.00, for a total value of $228,375.00. Following the sale, the executive vice president now directly owns 140,201 shares in the company, valued at $12,197,487. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 5th. The stock was acquired at an average price of $79.55 per share, with a total value of $238,650.00. Following the completion of the purchase, the director now directly owns 17,334 shares of the company’s stock, valued at approximately $1,378,919.70. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company’s stock.

CVS Health Profile

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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