UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in CVS Health Co. (NYSE:CVS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in CVS Health Co. (NYSE:CVS - Free Report) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,049,945 shares of the pharmacy operator's stock after purchasing an additional 107,977 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.56% of CVS Health worth $443,301,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health during the third quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the 3rd quarter worth $32,000. First Community Trust NA increased its stake in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock valued at $33,000 after buying an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research reports. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Piper Sandler reduced their price target on CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research report on Monday. Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.33.

CVS Health Stock Performance

CVS Health stock traded down $0.04 during trading hours on Friday, hitting $59.92. 1,632,732 shares of the stock traded hands, compared to its average volume of 11,303,563. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The stock has a market capitalization of $75.40 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 1.02 and a beta of 0.55. 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 firm's 50 day moving average price is $59.33 and its 200-day moving average price is $58.73.

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, topping analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for 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 revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 5.37 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health's dividend payout ratio is currently 67.51%.

About CVS Health

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.