CVS Health Co. (NYSE:CVS) Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. increased its stake in shares of CVS Health Co. (NYSE:CVS) by 201.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,121 shares of the pharmacy operator’s stock after acquiring an additional 6,093 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in CVS Health were worth $539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital International Investors boosted its stake in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. Pzena Investment Management LLC boosted its stake in shares of 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 buying an additional 7,382,931 shares during the period. Capital World Investors increased its position in CVS Health by 8.0% in 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 acquiring an additional 3,232,172 shares during the period. State of Michigan Retirement System raised its stake in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after acquiring an additional 1,606,500 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $111,209,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 1.5 %

Shares of CVS stock opened at $57.51 on Friday. The firm has a 50-day moving average price of $58.31 and a 200 day moving average price of $62.52. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $72.20 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.79 and a beta of 0.53. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. CVS Health’s payout ratio is currently 46.75%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVS shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Barclays lowered their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Monday, September 16th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Profile

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.