The Manufacturers Life Insurance Company Boosts Stock Position in CVS Health Co. (NYSE:CVS)

The Manufacturers Life Insurance Company raised its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 7.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,096,238 shares of the pharmacy operator's stock after acquiring an additional 79,132 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of CVS Health worth $68,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health in the 3rd quarter worth approximately $32,000. First Community Trust NA increased its holdings in CVS Health by 116.2% in 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 3rd quarter worth approximately $33,000. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 1.6 %

NYSE CVS traded up $0.95 during trading on Thursday, hitting $59.96. The company's stock had a trading volume of 7,596,294 shares, compared to its average volume of 11,346,436. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a market cap of $75.45 billion, a PE ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55. The business's 50 day simple moving average is $59.33 and its 200-day simple moving average is $58.73. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share. On average, equities analysts anticipate that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced 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. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is 67.51%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVS. UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Finally, Truist Financial reaffirmed a "buy" rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.33.

CVS Health 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.