Chevy Chase Trust Holdings LLC Has $45.75 Million Stock Holdings in CVS Health Corporation (NYSE:CVS)

Chevy Chase Trust Holdings LLC cut its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 675,317 shares of the pharmacy operator's stock after selling 78,214 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of CVS Health worth $45,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CVS. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the fourth quarter worth $29,000. McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Providence First Trust Co bought a new stake in CVS Health in the fourth quarter worth $42,000. Park Square Financial Group LLC bought a new stake in CVS Health in the fourth quarter worth $43,000. Finally, PARK CIRCLE Co boosted its holdings in CVS Health by 42.9% in the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after purchasing an additional 300 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director now owns 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by corporate insiders.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.36 during mid-day trading on Friday, hitting $68.50. The company had a trading volume of 5,937,044 shares, compared to its average volume of 10,854,461. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The business's 50-day simple moving average is $64.86 and its 200-day simple moving average is $60.86. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The firm has a market cap of $86.66 billion, a P/E ratio of 16.35, a PEG ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. UBS Group upped their price objective on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an "overweight" rating in a report on Monday, June 2nd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

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.