EverSource Wealth Advisors LLC Buys 1,753 Shares of CVS Health Co. (NYSE:CVS)

EverSource Wealth Advisors LLC raised its stake in CVS Health Co. (NYSE:CVS) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,618 shares of the pharmacy operator’s stock after purchasing an additional 1,753 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in CVS Health were worth $942,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC increased its holdings in CVS Health by 9,318.2% during the second quarter. Frank Rimerman Advisors LLC now owns 9,324 shares of the pharmacy operator’s stock worth $551,000 after buying an additional 9,225 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of CVS Health by 9.0% during the 2nd quarter. ProShare Advisors LLC now owns 209,881 shares of the pharmacy operator’s stock worth $12,396,000 after purchasing an additional 17,281 shares during the last quarter. Beddow Capital Management Inc. raised its holdings in shares of CVS Health by 71.9% in the 2nd quarter. Beddow Capital Management Inc. now owns 54,135 shares of the pharmacy operator’s stock valued at $3,197,000 after purchasing an additional 22,635 shares during the period. Legacy Financial Advisors Inc. lifted its stake in CVS Health by 201.2% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 9,121 shares of the pharmacy operator’s stock valued at $539,000 after purchasing an additional 6,093 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its holdings in CVS Health by 19.7% during the second quarter. Sompo Asset Management Co. Ltd. now owns 124,070 shares of the pharmacy operator’s stock worth $7,328,000 after purchasing an additional 20,386 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS opened at $57.57 on Tuesday. The firm has a market cap of $72.27 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The business’s fifty day moving average is $58.28 and its 200-day moving average is $62.32. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the firm earned $2.21 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVS. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Evercore ISI reduced their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company upped their price objective on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Baird R W upgraded shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

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.