Clarity Financial LLC Increases Holdings in CVS Health Co. (NYSE:CVS)

Clarity Financial LLC increased its position in CVS Health Co. (NYSE:CVS) by 17.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,738 shares of the pharmacy operator’s stock after purchasing an additional 1,421 shares during the period. Clarity Financial LLC’s holdings in CVS Health were worth $612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CVS. Livelsberger Financial Advisory acquired a new position in CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new position in CVS Health in the 3rd quarter valued at about $32,000. First Community Trust NA increased its position 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 purchasing an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in CVS Health during the 3rd quarter worth approximately $33,000. Finally, ORG Partners LLC increased its position in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 2.1 %

Shares of NYSE CVS opened at $54.65 on Tuesday. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a market cap of $68.75 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.82 and a beta of 0.55. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average price of $59.58 and a 200 day moving average price of $59.39.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 47.33%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVS. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $73.11.

About CVS Health

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.