CVS Health Co. (NYSE:CVS) Shares Bought by Axiom Advisory LLC

Axiom Advisory LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,762 shares of the pharmacy operator’s stock after buying an additional 258 shares during the quarter. Axiom Advisory LLC’s holdings in CVS Health were worth $861,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVS. Deutsche Bank Aktiengesellschaft dropped 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. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.05.

CVS Health Price Performance

Shares of NYSE:CVS opened at $65.88 on Wednesday. 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 stock has a market capitalization of $82.70 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.81 and a beta of 0.54. The business has a 50-day moving average of $58.67 and a two-hundred day moving average of $61.25. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio 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.