Bar Harbor Trust Services Purchases New Stake in CVS Health Corporation (CVS)

Bar Harbor Trust Services Purchases New Stake in CVS Health Corporation (CVS)

Bar Harbor Trust Services purchased a new position in shares of CVS Health Corporation (NYSE:CVS) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,410 shares of the pharmacy operator’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. East Coast Asset Management LLC. increased its position in CVS Health Corporation by 0.3% in the second quarter. East Coast Asset Management LLC. now owns 2,431 shares of the pharmacy operator’s stock worth $233,000 after buying an additional 7 shares during the period. Valley National Advisers Inc. increased its stake in shares of CVS Health Corporation by 0.5% in the second quarter. Valley National Advisers Inc. now owns 1,790 shares of the pharmacy operator’s stock valued at $171,000 after buying an additional 9 shares during the last quarter. Signature Financial Management Inc. increased its stake in shares of CVS Health Corporation by 0.3% in the third quarter. Signature Financial Management Inc. now owns 3,400 shares of the pharmacy operator’s stock valued at $303,000 after buying an additional 9 shares during the last quarter. Lourd Capital LLC increased its stake in shares of CVS Health Corporation by 0.3% in the second quarter. Lourd Capital LLC now owns 3,598 shares of the pharmacy operator’s stock valued at $344,000 after buying an additional 11 shares during the last quarter. Finally, Affinity Investment Advisors LLC increased its stake in shares of CVS Health Corporation by 0.7% in the third quarter. Affinity Investment Advisors LLC now owns 2,775 shares of the pharmacy operator’s stock valued at $247,000 after buying an additional 20 shares during the last quarter. 81.34% of the stock is currently owned by institutional investors.

Shares of CVS Health Corporation (NYSE:CVS) traded down 1.99% during midday trading on Friday, reaching $77.75. 10,924,374 shares of the company’s stock traded hands. The firm has a market cap of $82.92 billion, a PE ratio of 16.66 and a beta of 0.84. The stock has a 50-day moving average price of $80.54 and a 200 day moving average price of $86.55. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $106.67.

CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.07. CVS Health Corporation had a net margin of 2.96% and a return on equity of 17.18%. The company had revenue of $44.60 billion for the quarter, compared to analyst estimates of $45.29 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that CVS Health Corporation will post $5.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Tuesday, January 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, January 20th. This is a positive change from CVS Health Corporation’s previous quarterly dividend of $0.43. CVS Health Corporation’s dividend payout ratio is currently 42.83%.

Several analysts recently commented on the company. Vetr downgraded CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $86.51 price objective on the stock. in a research note on Thursday, December 8th. Mizuho raised their price objective on CVS Health Corporation from $90.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, November 9th. Leerink Swann reaffirmed an “outperform” rating and set a $105.00 price objective (down previously from $110.00) on shares of CVS Health Corporation in a research note on Sunday, October 2nd. Credit Suisse Group reaffirmed a “buy” rating on shares of CVS Health Corporation in a research note on Monday, December 19th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of CVS Health Corporation in a research note on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $101.77.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

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