Meridian Wealth Management LLC bought a new position in CVS Health Co. (NYSE:CVS - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 14,975 shares of the pharmacy operator's stock, valued at approximately $942,000.
Several other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the 3rd quarter valued at $32,000. First Community Trust NA raised its stake 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 acquiring an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the third quarter valued at $33,000. Hedge funds and other institutional investors own 80.66% of the company's stock.
CVS Health Stock Up 1.6 %
Shares of CVS Health stock traded up $0.91 during trading hours on Friday, hitting $58.01. 11,153,900 shares of the company's stock traded hands, compared to its average volume of 12,620,673. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The stock has a 50 day simple moving average of $59.21 and a 200-day simple moving average of $58.61. The company has a market cap of $73.00 billion, a PE ratio of 14.72, a PEG ratio of 0.96 and a beta of 0.55.
CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the company posted $2.21 EPS. CVS Health's quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.
CVS Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Monday, October 21st. CVS Health's dividend payout ratio is presently 67.51%.
Analyst Ratings Changes
A number of analysts have recently commented on CVS shares. Barclays cut their target price on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada decreased their price target on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.28.
Read Our Latest Analysis on CVS
CVS Health Company Profile
(
Free Report)
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.
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