Payden & Rygel acquired a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 99,900 shares of the pharmacy operator's stock, valued at approximately $6,282,000.
A number of other large investors have also modified their holdings of the stock. Pzena Investment Management LLC grew its stake in CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after purchasing an additional 198,920 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of CVS Health by 35.1% during the third quarter. Advisors Asset Management Inc. now owns 133,666 shares of the pharmacy operator's stock worth $8,405,000 after buying an additional 34,728 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of CVS Health in the 3rd quarter worth about $1,847,000. West Family Investments Inc. raised its stake in CVS Health by 13.6% during the third quarter. West Family Investments Inc. now owns 24,992 shares of the pharmacy operator's stock valued at $1,571,000 after buying an additional 2,986 shares in the last quarter. Finally, Second Half Financial Partners LLC bought a new position in CVS Health during the third quarter worth $359,000. Institutional investors and hedge funds own 80.66% of the company's stock.
CVS Health Price Performance
Shares of NYSE CVS traded up $0.03 during trading on Thursday, reaching $56.86. The company had a trading volume of 2,490,996 shares, compared to its average volume of 11,339,279. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The business's 50 day moving average price is $59.18 and its 200-day moving average price is $58.61. The stock has a market cap of $71.55 billion, a PE ratio of 14.42, a PEG ratio of 0.94 and a beta of 0.55.
CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that CVS Health Co. will post 5.43 earnings per share for the current year.
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. CVS Health's payout ratio is presently 67.51%.
Wall Street Analysts Forecast Growth
CVS has been the subject of several research reports. Truist Financial reaffirmed a "buy" rating and issued a $67.00 price target (down from $76.00) on shares of CVS Health in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a "hold" rating for the company in a research report on Friday, August 9th. Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. One research 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's stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $72.28.
Check Out Our Latest Stock Report on CVS
CVS Health 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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