Point View Wealth Management Inc. Increases Stake in CVS Health Corp (NYSE:CVS)

Point View Wealth Management Inc. increased its position in shares of CVS Health Corp (NYSE:CVS) by 48.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,860 shares of the pharmacy operator’s stock after buying an additional 14,085 shares during the period. CVS Health comprises approximately 1.0% of Point View Wealth Management Inc.’s holdings, making the stock its 19th largest holding. Point View Wealth Management Inc.’s holdings in CVS Health were worth $2,335,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CVS. Janney Montgomery Scott LLC grew its stake in CVS Health by 16.9% in the second quarter. Janney Montgomery Scott LLC now owns 836,532 shares of the pharmacy operator’s stock valued at $45,583,000 after purchasing an additional 121,174 shares during the last quarter. Parthenon LLC grew its stake in CVS Health by 0.7% in the second quarter. Parthenon LLC now owns 164,791 shares of the pharmacy operator’s stock valued at $8,979,000 after purchasing an additional 1,177 shares during the last quarter. Goelzer Investment Management Inc. grew its stake in CVS Health by 35.5% in the second quarter. Goelzer Investment Management Inc. now owns 121,255 shares of the pharmacy operator’s stock valued at $6,607,000 after purchasing an additional 31,785 shares during the last quarter. BLB&B Advisors LLC grew its stake in CVS Health by 6.1% in the second quarter. BLB&B Advisors LLC now owns 22,176 shares of the pharmacy operator’s stock valued at $1,208,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Ironwood Investment Counsel LLC grew its stake in CVS Health by 8.5% in the second quarter. Ironwood Investment Counsel LLC now owns 52,304 shares of the pharmacy operator’s stock valued at $2,850,000 after purchasing an additional 4,107 shares during the last quarter. Hedge funds and other institutional investors own 77.33% of the company’s stock.

NYSE CVS traded up $0.32 during trading on Friday, hitting $59.36. The company’s stock had a trading volume of 4,243,460 shares, compared to its average volume of 8,168,163. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $76.36 billion, a P/E ratio of 8.38, a PEG ratio of 1.22 and a beta of 0.90. The firm’s 50 day moving average is $55.54. CVS Health Corp has a fifty-two week low of $51.72 and a fifty-two week high of $82.15.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.19. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The business had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. During the same quarter last year, the company earned $1.69 earnings per share. The company’s quarterly revenue was up 35.2% on a year-over-year basis. On average, research analysts forecast that CVS Health Corp will post 6.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Wednesday, July 24th. CVS Health’s dividend payout ratio (DPR) is 28.25%.

Several equities analysts have issued reports on CVS shares. Guggenheim started coverage on CVS Health in a research note on Thursday, April 18th. They issued a “buy” rating and a $75.00 target price on the stock. Credit Suisse Group lowered CVS Health from an “outperform” rating to a “neutral” rating and cut their target price for the company from $73.00 to $61.00 in a research note on Monday, April 29th. Mizuho set a $71.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, June 5th. Morgan Stanley cut their target price on CVS Health from $92.00 to $74.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, UBS Group lowered their price target on CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. CVS Health currently has an average rating of “Buy” and a consensus target price of $75.14.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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