Huntington National Bank Sells 10,970 Shares of CVS Health Corp (NYSE:CVS)
Huntington National Bank reduced its holdings in shares of CVS Health Corp (NYSE:CVS) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,666 shares of the pharmacy operator’s stock after selling 10,970 shares during the quarter. Huntington National Bank’s holdings in CVS Health were worth $4,137,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CVS. Abbrea Capital LLC lifted its stake in CVS Health by 2.6% during the first quarter. Abbrea Capital LLC now owns 6,198 shares of the pharmacy operator’s stock worth $368,000 after purchasing an additional 159 shares during the last quarter. Advisory Alpha LLC lifted its stake in CVS Health by 25.2% during the first quarter. Advisory Alpha LLC now owns 799 shares of the pharmacy operator’s stock worth $49,000 after purchasing an additional 161 shares during the last quarter. Ballast Advisors LLC lifted its stake in CVS Health by 3.0% during the first quarter. Ballast Advisors LLC now owns 5,836 shares of the pharmacy operator’s stock worth $346,000 after purchasing an additional 169 shares during the last quarter. Eudaimonia Partners LLC lifted its stake in CVS Health by 1.3% during the first quarter. Eudaimonia Partners LLC now owns 13,531 shares of the pharmacy operator’s stock worth $803,000 after purchasing an additional 171 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its stake in CVS Health by 4.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,715 shares of the pharmacy operator’s stock worth $220,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 76.04% of the company’s stock.
NYSE:CVS traded down $1.06 during mid-day trading on Friday, reaching $62.94. 9,200,682 shares of the company’s stock traded hands, compared to its average volume of 6,159,701. CVS Health Corp has a 12-month low of $52.04 and a 12-month high of $77.03. The firm has a market capitalization of $83.65 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.42 and a beta of 0.76. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.99 and a quick ratio of 0.70. The company has a 50 day moving average price of $63.99 and a 200-day moving average price of $64.46.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $2.00 annualized dividend and a yield of 3.18%. CVS Health’s payout ratio is 28.25%.
In related news, EVP Alan Lotvin purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $63.14 per share, with a total value of $315,700.00. Following the transaction, the executive vice president now directly owns 15,161 shares in the company, valued at approximately $957,265.54. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.46% of the company’s stock.
Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on CVS Health from $97.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Citigroup decreased their price objective on CVS Health from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Robert W. Baird lifted their price objective on CVS Health from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Tigress Financial reiterated a “buy” rating on shares of CVS Health in a report on Friday, April 24th. Finally, Morgan Stanley lifted their price objective on CVS Health from $71.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.35.
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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