CVS Health Co. (NYSE:CVS) Shares Bought by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC raised its position in shares of CVS Health Co. (NYSE:CVS) by 13.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,681 shares of the pharmacy operator’s stock after buying an additional 195 shares during the period. Bruce G. Allen Investments LLC’s holdings in CVS Health were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Financial Bankshares Inc purchased a new position in CVS Health in the fourth quarter valued at $1,117,000. Continuum Advisory LLC raised its stake in CVS Health by 16.1% in the fourth quarter. Continuum Advisory LLC now owns 31,881 shares of the pharmacy operator’s stock valued at $2,517,000 after buying an additional 4,422 shares in the last quarter. Midland Wealth Advisors LLC acquired a new stake in CVS Health in the fourth quarter valued at $1,315,000. Comerica Bank increased its position in shares of CVS Health by 0.8% during the fourth quarter. Comerica Bank now owns 420,164 shares of the pharmacy operator’s stock worth $33,176,000 after purchasing an additional 3,305 shares in the last quarter. Finally, Brevan Howard Capital Management LP increased its position in shares of CVS Health by 600.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 23,804 shares of the pharmacy operator’s stock worth $1,880,000 after purchasing an additional 20,408 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS stock opened at $65.96 on Thursday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock’s 50 day moving average price is $58.72 and its 200 day moving average price is $61.16. The firm has a market cap of $82.80 billion, a P/E ratio of 11.59, a PEG ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the prior year, the company earned $2.21 EPS. CVS Health’s revenue was up 2.6% on a year-over-year basis. On average, 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 business 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 $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $63.00 to $82.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Finally, Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

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.