Morton Community Bank Increases Stock Position in CVS Health Co. (NYSE:CVS)

Morton Community Bank raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas boosted its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health during the fourth quarter valued at approximately $32,000. First Community Trust NA increased its holdings in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Creekmur Asset Management LLC purchased a new stake in CVS Health in the 4th quarter worth approximately $34,000. Finally, Steph & Co. grew its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.6 %

NYSE:CVS traded down $0.32 during midday trading on Friday, reaching $57.75. 6,263,025 shares of the stock traded hands, compared to its average volume of 11,149,185. The stock has a market capitalization of $72.50 billion, a P/E ratio of 10.15, a PEG ratio of 0.80 and a beta of 0.53. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a fifty day moving average of $58.29 and a 200 day moving average of $63.78.

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

CVS Health Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVS shares. Evercore ISI lowered their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research 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 on the stock in a research report on Friday, August 9th. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Finally, Barclays lowered their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.48.

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.