Morton Community Bank Purchases 2,813 Shares of CVS Health Co. (NYSE:CVS)

Morton Community Bank lifted its position in CVS Health Co. (NYSE:CVS) by 7.7% in the 2nd quarter, Holdings Channel reports. The fund owned 39,447 shares of the pharmacy operator’s stock after acquiring an additional 2,813 shares during the quarter. Morton Community Bank’s holdings in CVS Health were worth $2,330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Steph & Co. lifted its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Forum Financial Management LP grew its stake in shares of CVS Health by 19.4% in the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock worth $1,410,000 after buying an additional 2,901 shares during the last quarter. Douglas Lane & Associates LLC increased its position in CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after buying an additional 16,840 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in CVS Health during the fourth quarter valued at $151,000. Finally, State of Tennessee Treasury Department grew its stake in shares of CVS Health by 10.4% in the fourth quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock worth $49,336,000 after acquiring an additional 58,836 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Evercore ISI cut their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.48.

CVS Health Stock Performance

Shares of CVS stock traded down $0.32 during mid-day trading on Friday, reaching $57.75. 6,263,025 shares of the company’s stock traded hands, compared to its average volume of 11,149,185. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm has a 50 day moving average price of $58.29 and a two-hundred day moving average price of $63.78. The firm has a market capitalization of $72.50 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the prior year, the business posted $2.21 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that CVS Health Co. will post 6.52 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.