Chevy Chase Trust Holdings Lowers stake in CVS Health Corp (CVS)

CVS Health Corp (CVS) : Chevy Chase Trust Holdings reduced its stake in CVS Health Corp by 1.03% during the most recent quarter end. The investment management company now holds a total of 1,441,427 shares of CVS Health Corp which is valued at $124,251,007 after selling 15,071 shares in CVS Health Corp , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.CVS Health Corp makes up approximately 0.68% of Chevy Chase Trust Holdings’s portfolio.

Other Hedge Funds, Including , First National Bank Of Mount Dora Trust Investment Services reduced its stake in CVS by selling 2,520 shares or 5.07% in the most recent quarter. The Hedge Fund company now holds 47,172 shares of CVS which is valued at $4,066,226. CVS Health Corp makes up approx 2.28% of First National Bank Of Mount Dora Trust Investment Services’s portfolio. Norman Fields Gottscho Capital Management sold out all of its stake in CVS during the most recent quarter. The investment firm sold 41,317 shares of CVS which is valued $3,561,525.West Oak Capital boosted its stake in CVS in the latest quarter, The investment management firm added 915 additional shares and now holds a total of 21,310 shares of CVS Health Corp which is valued at $1,836,922. CVS Health Corp makes up approx 1.27% of West Oak Capital’s portfolio.Lvm Capital Management Ltdmi reduced its stake in CVS by selling 45,106 shares or 85.04% in the most recent quarter. The Hedge Fund company now holds 7,936 shares of CVS which is valued at $684,083. CVS Health Corp makes up approx 0.22% of Lvm Capital Management Ltdmi’s portfolio.

CVS Health Corp closed down -0.87 points or -1.00% at $86.22 with 68,20,022 shares getting traded on Tuesday. Post opening the session at $87.19, the shares hit an intraday low of $86.02 and an intraday high of $87.41 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, CVS Health Corp reported $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.30. The company had revenue of $43725.00 million for the quarter, compared to analysts expectations of $44281.46 million. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.

Investors should note that on Sep 22, 2016, CVS Health Corp announced a cash dividend of $0.4250. The company’s management has announced Oct 20, 2016 as the ex-dividend date and fixed the record date on Oct 24, 2016. The payable date has been fixed on Nov 3, 2016.

Many Wall Street Analysts have commented on CVS Health Corp. Company shares were Reiterated by Mizuho on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 111 from a previous price target of $108 .Company shares were Reiterated by Deutsche Bank on Aug 3, 2016 to “Hold”, Firm has raised the Price Target to $ 108 from a previous price target of $99 .

CVS Health Corporation together with its subsidiaries is a pharmacy company. The Company operates through three business segments: Pharmacy Services Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services Novologix and Navarro Health Services names. The Retail Pharmacy segment sells prescription drugs and an assortment of general merchandise including over-the-counter drugs beauty products and cosmetics personal care products convenience foods photo finishing seasonal merchandise and greeting cards through the Company’s retail stores online retail pharmacy Websites and retail healthcare clinics. The Corporate segment provides management and administrative services to support the overall operations of the Company. The Company through its wholly owned subsidiary Omnicare Inc. provides pharmacy services to long term care facilities.

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