Capital Investment Advisors LLC Raises Stock Position in CVS Health Co. (NYSE:CVS)

Capital Investment Advisors LLC lifted its position in shares of CVS Health Co. (NYSE:CVS) by 17.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,499 shares of the pharmacy operator’s stock after acquiring an additional 73,269 shares during the quarter. Capital Investment Advisors LLC’s holdings in CVS Health were worth $31,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of CVS Health by 33.2% during the 4th quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock worth $17,295,000 after buying an additional 54,616 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in CVS Health during the fourth quarter worth about $36,000. Park Avenue Securities LLC lifted its holdings in shares of CVS Health by 3.2% in the first quarter. Park Avenue Securities LLC now owns 26,985 shares of the pharmacy operator’s stock valued at $2,152,000 after purchasing an additional 827 shares in the last quarter. Sanders Morris Harris LLC increased its stake in shares of CVS Health by 4.1% during the 1st quarter. Sanders Morris Harris LLC now owns 5,774 shares of the pharmacy operator’s stock worth $461,000 after purchasing an additional 227 shares in the last quarter. Finally, &PARTNERS acquired a new position in shares of CVS Health during the 1st quarter worth approximately $430,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $60.35 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. 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 $75.76 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The stock’s 50-day moving average is $59.80 and its 200-day moving average is $60.62.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the previous year, the company posted $2.21 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial increased their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $63.00 to $82.00 in a report on Thursday, October 10th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 note on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.26.

CVS Health Company 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.