WealthCare Investment Partners LLC boosted its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 8.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,612 shares of the pharmacy operator’s stock after purchasing an additional 568 shares during the period. WealthCare Investment Partners LLC’s holdings in CVS Health were worth $530,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Live Oak Investment Partners purchased a new stake in shares of CVS Health during the 4th quarter worth about $25,000. Freedom Wealth Alliance LLC purchased a new position in CVS Health in the 4th quarter valued at about $40,000. True Wealth Design LLC purchased a new position in CVS Health in the 4th quarter valued at about $48,000. 25 LLC purchased a new position in CVS Health in the 1st quarter valued at about $39,000. Finally, General Partner Inc. acquired a new stake in CVS Health in the 1st quarter valued at about $47,000. 75.99% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a report on Thursday, September 14th. Truist Financial decreased their price target on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Wolfe Research raised shares of CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Tuesday, September 12th. Morgan Stanley dropped their price objective on shares of CVS Health from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Finally, Piper Sandler dropped their price target on shares of CVS Health from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.28.
CVS Health Trading Up 1.0 %
Shares of NYSE:CVS traded up $0.74 during midday trading on Tuesday, hitting $71.44. 4,880,835 shares of the stock were exchanged, compared to its average volume of 9,126,229. The stock has a market capitalization of $91.76 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 1.34 and a beta of 0.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.64 and a current ratio of 0.86. The business’s 50-day moving average price is $70.83 and its 200 day moving average price is $71.77. CVS Health Co. has a 12 month low of $64.62 and a 12 month high of $104.83.
CVS Health (NYSE:CVS – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 EPS for the quarter, beating the consensus estimate of $2.12 by $0.09. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. The business had revenue of $88.92 billion for the quarter, compared to analysts’ expectations of $86.41 billion. During the same period in the prior year, the business posted $2.40 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Analysts predict that CVS Health Co. will post 8.61 earnings per share for the current year.
CVS Health Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 21st were paid a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 3.39%. The ex-dividend date was Thursday, July 20th. CVS Health’s dividend payout ratio (DPR) is presently 106.14%.
Insider Buying and Selling at CVS Health
In other news, SVP James David Clark sold 25,759 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $74.92, for a total transaction of $1,929,864.28. Following the transaction, the senior vice president now directly owns 4,698 shares of the company’s stock, valued at $351,974.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.
CVS Health Company Profile
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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