National Asset Management Inc. grew its holdings in CVS Health Co. (NYSE:CVS) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,363 shares of the pharmacy operator’s stock after buying an additional 10,031 shares during the quarter. National Asset Management Inc.’s holdings in CVS Health were worth $4,176,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. ETRADE Capital Management LLC grew its stake in CVS Health by 22.4% in the second quarter. ETRADE Capital Management LLC now owns 99,595 shares of the pharmacy operator’s stock valued at $6,471,000 after acquiring an additional 18,214 shares during the period. Sigma Planning Corp increased its stake in shares of CVS Health by 6.8% during the 3rd quarter. Sigma Planning Corp now owns 65,037 shares of the pharmacy operator’s stock worth $3,798,000 after purchasing an additional 4,114 shares during the last quarter. Culbertson A N & Co. Inc. raised its stake in CVS Health by 1.5% in the third quarter. Culbertson A N & Co. Inc. now owns 98,750 shares of the pharmacy operator’s stock valued at $5,767,000 after buying an additional 1,500 shares during the period. Ellevest Inc. raised its stake in CVS Health by 34.6% in the 3rd quarter. Ellevest Inc. now owns 2,009 shares of the pharmacy operator’s stock valued at $117,000 after acquiring an additional 516 shares during the period. Finally, MADDEN SECURITIES Corp lifted its stake in shares of CVS Health by 9.9% during the 3rd quarter. MADDEN SECURITIES Corp now owns 5,898 shares of the pharmacy operator’s stock worth $344,000 after buying an additional 529 shares during the last quarter. Institutional investors own 75.88% of the company’s stock.
Shares of CVS traded down $5.27 on Tuesday, reaching $68.20. 758,302 shares of the company’s stock traded hands, compared to its average volume of 8,786,114. The stock’s 50 day simple moving average is $60.66 and its two-hundred day simple moving average is $62.57. The stock has a market cap of $96.17 billion, a PE ratio of 11.27, a PEG ratio of 1.58 and a beta of 0.69. CVS Health Co. has a 52-week low of $52.04 and a 52-week high of $77.03. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. The firm had revenue of $67.05 billion during the quarter, compared to analyst estimates of $66.54 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $1.84 EPS. Analysts forecast that CVS Health Co. will post 7.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Wednesday, October 21st. CVS Health’s dividend payout ratio is currently 28.25%.
A number of research firms have issued reports on CVS. SVB Leerink boosted their price objective on shares of CVS Health from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Piper Sandler lifted their target price on CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Wednesday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of CVS Health in a report on Monday, November 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a report on Monday, November 9th. Finally, Credit Suisse Group raised their target price on CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $82.43.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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