Wellington Management Group LLP boosted its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 224,248 shares of the pharmacy operator's stock after acquiring an additional 13,120 shares during the quarter. Wellington Management Group LLP's holdings in CVS Health were worth $14,101,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CVS. ORG Partners LLC increased its stake in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator's stock valued at $35,000 after purchasing an additional 592 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of CVS Health during the 2nd quarter worth $803,000. Pallas Capital Advisors LLC boosted its position in shares of CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator's stock worth $447,000 after buying an additional 183 shares in the last quarter. Cidel Asset Management Inc. increased its stake in shares of CVS Health by 10.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 28,717 shares of the pharmacy operator's stock worth $1,696,000 after purchasing an additional 2,791 shares in the last quarter. Finally, Legacy Capital Group California Inc. lifted its stake in CVS Health by 49.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 15,708 shares of the pharmacy operator's stock valued at $928,000 after buying an additional 5,165 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Evercore ISI increased 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 upped their price target on CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Truist Financial reissued a "buy" rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, StockNews.com downgraded shares of CVS Health from a "hold" rating to a "sell" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.50.
Read Our Latest Report on CVS
CVS Health Stock Performance
Shares of CVS Health stock traded down $0.21 on Friday, reaching $49.37. 17,647,663 shares of the company were exchanged, compared to its average volume of 11,382,666. The firm has a market cap of $62.13 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.89 and a beta of 0.54. CVS Health Co. has a 1-year low of $48.01 and a 1-year 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 company's 50-day moving average is $58.34 and its two-hundred day moving average is $58.64.
CVS Health (NYSE:CVS - Get Free Report) last posted 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. The company had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $2.21 earnings per share. As a group, research analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.
CVS Health Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.39%. CVS Health's dividend payout ratio (DPR) is presently 67.51%.
About CVS Health
(
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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