Gould Asset Management LLC CA boosted its holdings in shares of CVS Health Corp (NYSE:CVS) by 56.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,125 shares of the pharmacy operator’s stock after buying an additional 2,220 shares during the period. Gould Asset Management LLC CA’s holdings in CVS Health were worth $482,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. grew its stake in CVS Health by 5.9% in the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after purchasing an additional 4,121,620 shares in the last quarter. Parnassus Investments CA grew its stake in CVS Health by 2.2% in the second quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock valued at $1,072,039,000 after purchasing an additional 350,872 shares in the last quarter. Bank of New York Mellon Corp grew its stake in CVS Health by 15.9% in the second quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock valued at $809,095,000 after purchasing an additional 1,721,683 shares in the last quarter. Veritas Asset Management LLP grew its stake in CVS Health by 4.5% in the second quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock valued at $765,149,000 after purchasing an additional 508,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in CVS Health by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,840,057 shares of the pharmacy operator’s stock valued at $697,653,000 after purchasing an additional 64,223 shares in the last quarter. 83.03% of the stock is currently owned by hedge funds and other institutional investors.
CVS has been the topic of a number of recent research reports. Bank of America boosted their target price on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Royal Bank of Canada restated a “buy” rating and issued a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Tigress Financial restated a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. Morgan Stanley set a $100.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. Finally, Argus boosted their target price on CVS Health to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $90.04.
CVS opened at $75.18 on Friday. The stock has a market cap of $76.50 billion, a PE ratio of 12.74, a P/E/G ratio of 1.00 and a beta of 0.98. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $83.88. The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $47.27 billion during the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS. On average, equities research analysts forecast that CVS Health Corp will post 7.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
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CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
Further Reading: Understanding Price to Earnings Ratio (PE)
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