Public Sector Pension Investment Board Grows Position in CVS Health Co. (NYSE:CVS)

Public Sector Pension Investment Board grew its position in shares of CVS Health Co. (NYSE:CVS) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,880 shares of the pharmacy operator’s stock after purchasing an additional 23,506 shares during the quarter. Public Sector Pension Investment Board’s holdings in CVS Health were worth $18,892,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wedmont Private Capital increased its position in shares of CVS Health by 0.8% during the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after purchasing an additional 146 shares in the last quarter. Moody National Bank Trust Division increased its position in CVS Health by 0.7% during the first quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after buying an additional 150 shares during the period. Landmark Financial Advisors LLC lifted its stake in CVS Health by 3.8% in the fourth quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock valued at $329,000 after buying an additional 153 shares during the last quarter. Garland Capital Management Inc. boosted its holdings in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the period. Finally, Silverlake Wealth Management LLC increased its holdings in shares of CVS Health by 1.6% in the 1st quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after acquiring an additional 173 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore ISI lowered their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Wells Fargo & Company upped their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Trading Down 1.5 %

Shares of CVS opened at $57.51 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a market cap of $72.20 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The firm has a 50 day simple moving average of $58.31 and a 200-day simple moving average of $62.44.

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

CVS Health Announces Dividend

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

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.