CVS Health Co. (NYSE:CVS) Holdings Lifted by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 24.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,866 shares of the pharmacy operator’s stock after buying an additional 5,668 shares during the quarter. WCG Wealth Advisors LLC’s holdings in CVS Health were worth $1,705,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of CVS Health by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after acquiring an additional 533,659 shares during the period. Capital World Investors increased its position in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Capital International Investors raised its stake in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after buying an additional 184,297 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.0 %

CVS stock opened at $58.40 on Friday. The company has a 50 day moving average of $58.34 and a two-hundred day moving average of $62.71. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the company earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.55%. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVS. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Robert W. Baird began coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.