Ascent Group LLC Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Ascent Group LLC grew its stake in CVS Health Co. (NYSE:CVS) by 14.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,188 shares of the pharmacy operator’s stock after purchasing an additional 2,578 shares during the period. Ascent Group LLC’s holdings in CVS Health were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health in the second quarter valued at approximately $57,584,000. Susquehanna Fundamental Investments LLC lifted its holdings in CVS Health by 27.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after acquiring an additional 145,158 shares during the last quarter. Steph & Co. lifted its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Douglas Lane & Associates LLC lifted its holdings in CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after acquiring an additional 16,840 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in CVS Health in the fourth quarter valued at approximately $151,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Monday, September 16th. Evercore ISI decreased their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, 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. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Performance

NYSE:CVS opened at $62.84 on Tuesday. The firm has a market capitalization of $78.89 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The business’s fifty day moving average price is $58.29 and its 200 day moving average price is $61.77. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

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

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.23%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 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.