CVS Health Co. (NYSE:CVS) Position Raised by Glassy Mountain Advisors Inc.

Glassy Mountain Advisors Inc. raised its holdings in shares of CVS Health Co. (NYSE:CVSGet Rating) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,680 shares of the pharmacy operator’s stock after purchasing an additional 825 shares during the quarter. CVS Health makes up approximately 3.8% of Glassy Mountain Advisors Inc.’s portfolio, making the stock its 7th largest holding. Glassy Mountain Advisors Inc.’s holdings in CVS Health were worth $7,356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Griffin Asset Management Inc. lifted its holdings in CVS Health by 0.5% during the fourth quarter. Griffin Asset Management Inc. now owns 21,187 shares of the pharmacy operator’s stock valued at $2,186,000 after purchasing an additional 95 shares during the last quarter. Townsend Asset Management Corp NC ADV lifted its holdings in shares of CVS Health by 0.6% in the fourth quarter. Townsend Asset Management Corp NC ADV now owns 17,344 shares of the pharmacy operator’s stock worth $1,789,000 after buying an additional 96 shares in the last quarter. Garrett Investment Advisors LLC lifted its holdings in shares of CVS Health by 1.5% in the fourth quarter. Garrett Investment Advisors LLC now owns 6,831 shares of the pharmacy operator’s stock worth $705,000 after buying an additional 98 shares in the last quarter. First Bancorp Inc ME lifted its holdings in shares of CVS Health by 2.8% in the fourth quarter. First Bancorp Inc ME now owns 3,590 shares of the pharmacy operator’s stock worth $371,000 after buying an additional 98 shares in the last quarter. Finally, Gryphon Financial Partners LLC lifted its holdings in shares of CVS Health by 2.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,084 shares of the pharmacy operator’s stock worth $525,000 after buying an additional 99 shares in the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Prem S. Shah sold 16,954 shares of the firm’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $105.00, for a total value of $1,780,170.00. Following the completion of the sale, the executive vice president now owns 43,453 shares of the company’s stock, valued at $4,562,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel P. Finke sold 55,359 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $100.13, for a total value of $5,543,096.67. Following the completion of the sale, the executive vice president now directly owns 3,098 shares of the company’s stock, valued at approximately $310,202.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,659 shares of company stock valued at $7,882,993. Insiders own 0.69% of the company’s stock.

CVS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of CVS Health from $110.00 to $113.00 in a report on Thursday, May 5th. Sanford C. Bernstein downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $122.00 to $112.00 in a report on Thursday, May 26th. StockNews.com initiated coverage on shares of CVS Health in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Tigress Financial upped their price objective on shares of CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Finally, Loop Capital initiated coverage on shares of CVS Health in a research report on Thursday, June 16th. They issued a “buy” rating and a $120.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $116.05.

Shares of NYSE CVS opened at $91.08 on Wednesday. CVS Health Co. has a one year low of $79.33 and a one year high of $111.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.88 and a quick ratio of 0.62. The firm’s 50 day simple moving average is $97.35 and its two-hundred day simple moving average is $101.49. The stock has a market capitalization of $119.43 billion, a P/E ratio of 15.13, a PEG ratio of 1.40 and a beta of 0.78.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.08. The business had revenue of $76.83 billion for the quarter, compared to analysts’ expectations of $75.30 billion. CVS Health had a net margin of 2.67% and a return on equity of 15.33%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $2.04 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

Further Reading

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

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