Apella Capital LLC Invests $249,000 in CVS Health Co. (NYSE:CVS)

Apella Capital LLC purchased a new position in CVS Health Co. (NYSE:CVS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,998 shares of the pharmacy operator’s stock, valued at approximately $249,000.

Other hedge funds have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health in the 4th quarter worth about $32,000. Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $34,000. Steph & Co. boosted its position in shares of 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. Kapitalo Investimentos Ltda bought a new position in CVS Health during the 4th quarter valued at approximately $36,000. Finally, Scarborough Advisors LLC purchased a new position in CVS Health during the fourth quarter valued at $37,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE CVS traded up $1.67 during mid-day trading on Friday, reaching $64.59. The company’s stock had a trading volume of 16,313,877 shares, compared to its average volume of 11,032,696. The stock has a market capitalization of $81.08 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.81 and a beta of 0.54. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a 50-day moving average of $58.60 and a two-hundred day moving average of $61.58. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping 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 analyst estimates of $91.41 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed 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. This represents a $2.66 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

Several research firms have recently issued reports on CVS. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Evercore ISI cut their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company boosted their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their target price for the company from $59.00 to $85.00 in a research note on Friday. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.40.

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.