Frank Rimerman Advisors LLC Raises Stock Position in CVS Health Co. (NYSE:CVS)

Frank Rimerman Advisors LLC raised its position in CVS Health Co. (NYSE:CVS) by 9,318.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,324 shares of the pharmacy operator’s stock after acquiring an additional 9,225 shares during the period. Frank Rimerman Advisors LLC’s holdings in CVS Health were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health during the 4th quarter worth $32,000. First Community Trust NA raised its position in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in CVS Health during the 4th quarter worth approximately $34,000. Steph & Co. increased its stake in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Evercore ISI decreased their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Robert W. Baird initiated coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut 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 note on Friday, August 9th. 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 presently has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Up 0.1 %

CVS opened at $57.57 on Tuesday. 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 Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a market cap of $72.27 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a 50-day moving average price of $58.28 and a 200 day moving average price of $62.32.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter last year, the business posted $2.21 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

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.