Charles Schwab Investment Management Inc. grew its stake in CVS Health Co. (NYSE:CVS – Free Report) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,393,434 shares of the pharmacy operator’s stock after acquiring an additional 397,285 shares during the period. Charles Schwab Investment Management Inc. owned about 0.96% of CVS Health worth $836,152,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Live Oak Investment Partners acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $25,000. LifePro Asset Management acquired a new position in shares of CVS Health in the second quarter valued at approximately $37,000. 25 LLC acquired a new position in shares of CVS Health in the first quarter valued at approximately $39,000. Northwest Capital Management Inc acquired a new position in shares of CVS Health in the second quarter valued at approximately $44,000. Finally, Glass Jacobson Investment Advisors llc acquired a new position in shares of CVS Health in the second quarter valued at approximately $48,000. 75.99% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CVS. Evercore ISI upgraded shares of CVS Health from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $83.00 in a report on Tuesday, September 19th. Raymond James reduced their price objective on shares of CVS Health from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. TheStreet upgraded shares of CVS Health from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Piper Sandler reduced their price objective on shares of CVS Health from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, September 1st. Finally, Morgan Stanley reduced their price objective on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.59.
Insider Transactions at CVS Health
In other CVS Health news, Director Edward J. Ludwig acquired 2,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were purchased at an average cost of $70.47 per share, with a total value of $140,940.00. Following the purchase, the director now owns 20,630 shares in the company, valued at $1,453,796.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
CVS Health Stock Up 0.1 %
Shares of CVS Health stock opened at $68.60 on Wednesday. The company has a market cap of $88.28 billion, a P/E ratio of 10.33, a PEG ratio of 1.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.86. CVS Health Co. has a one year low of $64.41 and a one year high of $104.83. The firm has a fifty day moving average of $69.69 and a two-hundred day moving average of $70.08.
CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The pharmacy operator reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.08. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. The company had revenue of $89.76 billion during the quarter, compared to the consensus estimate of $88.29 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. CVS Health’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 8.59 earnings per share for the current year.
CVS Health Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 20th were paid a dividend of $0.605 per share. The ex-dividend date was Thursday, October 19th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.53%. CVS Health’s dividend payout ratio (DPR) is presently 36.50%.
About CVS Health
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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