Creative Planning Purchases 47,737 Shares of CVS Health Co. (NYSE:CVS)

Creative Planning lifted its position in CVS Health Co. (NYSE:CVS) by 23.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 250,891 shares of the pharmacy operator’s stock after purchasing an additional 47,737 shares during the period. Creative Planning’s holdings in CVS Health were worth $15,776,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in CVS Health by 33.2% in the fourth quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock valued at $17,295,000 after acquiring an additional 54,616 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in CVS Health by 30.6% in the first quarter. AdvisorNet Financial Inc now owns 7,005 shares of the pharmacy operator’s stock valued at $559,000 after acquiring an additional 1,642 shares in the last quarter. Global Assets Advisory LLC purchased a new position in CVS Health during the first quarter valued at $10,652,000. Annex Advisory Services LLC purchased a new position in CVS Health during the first quarter valued at $300,000. Finally, Hoxton Planning & Management LLC lifted its position in CVS Health by 9.3% during the first quarter. Hoxton Planning & Management LLC now owns 3,991 shares of the pharmacy operator’s stock valued at $318,000 after buying an additional 341 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Evercore ISI raised their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $63.00 to $82.00 in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Trading Down 3.6 %

CVS Health stock opened at $58.18 on Tuesday. The business has a 50-day simple moving average of $59.85 and a two-hundred day simple moving average of $60.32. The company has a market cap of $73.04 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last released its quarterly 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. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. Analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

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 paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.57%. CVS Health’s dividend payout ratio (DPR) is presently 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.