ProShare Advisors LLC Has $12.40 Million Holdings in CVS Health Co. (NYSE:CVS)

ProShare Advisors LLC lifted its position in shares of CVS Health Co. (NYSE:CVS) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,881 shares of the pharmacy operator’s stock after purchasing an additional 17,281 shares during the period. ProShare Advisors LLC’s holdings in CVS Health were worth $12,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Steph & Co. raised its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after acquiring an additional 16,840 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in CVS Health in the 4th quarter valued at $151,000. State of Tennessee Treasury Department lifted its position in shares of CVS Health by 10.4% during the 4th quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock valued at $49,336,000 after acquiring an additional 58,836 shares during the period. Finally, BOCHK Asset Management Ltd bought a new position in shares of CVS Health in the fourth quarter worth $2,116,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $57.57 on Tuesday. The firm has a market cap of $72.27 billion, a P/E ratio of 10.12, a P/E/G ratio of 0.79 and a beta of 0.53. The stock’s 50 day moving average is $58.28 and its 200 day moving average is $62.32. 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 one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. As a group, research analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVS shares. Deutsche Bank Aktiengesellschaft reduced 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. Evercore ISI decreased 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 note on Thursday, August 8th. Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company boosted their price target 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, JPMorgan Chase & Co. reduced their price objective 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. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Company 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.