Oakbrook Investments LLC Lowers Stake in CVS Health Corp (NYSE:CVS)

Oakbrook Investments LLC trimmed its holdings in CVS Health Corp (NYSE:CVS) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,414 shares of the pharmacy operator’s stock after selling 10,411 shares during the period. Oakbrook Investments LLC’s holdings in CVS Health were worth $4,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its position in CVS Health by 16,194.7% during the second quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock valued at $659,986,000 after purchasing an additional 12,037,713 shares in the last quarter. Morgan Stanley grew its stake in shares of CVS Health by 12.8% during the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after buying an additional 1,560,142 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of CVS Health by 10.9% during the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after buying an additional 1,372,275 shares during the last quarter. Prudential PLC grew its stake in shares of CVS Health by 54.8% during the second quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock worth $203,137,000 after buying an additional 1,323,366 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of CVS Health by 1.2% during the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock worth $5,578,027,000 after buying an additional 1,167,143 shares during the last quarter. Institutional investors own 76.17% of the company’s stock.

In other CVS Health news, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total value of $528,450.00. Following the completion of the sale, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The disclosure for this sale can be found here. Insiders have sold 49,437 shares of company stock worth $3,248,811 in the last ninety days. Insiders own 0.53% of the company’s stock.

A number of research firms have weighed in on CVS. Deutsche Bank began coverage on shares of CVS Health in a research note on Thursday, September 12th. They set a “buy” rating and a $91.00 target price on the stock. Wells Fargo & Co boosted their target price on shares of CVS Health from $62.00 to $72.00 and gave the stock a “market perform” rating in a research note on Friday. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Barclays boosted their target price on shares of CVS Health from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley boosted their target price on shares of CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CVS Health currently has an average rating of “Buy” and an average price target of $77.59.

Shares of CVS Health stock traded up $0.69 during trading on Friday, hitting $72.47. The company’s stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. The stock has a market cap of $87.55 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The stock has a 50-day moving average price of $64.66 and a two-hundred day moving average price of $58.54. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share. On average, equities analysts predict that CVS Health Corp will post 6.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.76%. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.

CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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