Park Place Capital Corp Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Park Place Capital Corp raised its position in CVS Health Co. (NYSE:CVS) by 18.1% during the second quarter, Holdings Channel.com reports. The fund owned 2,033 shares of the pharmacy operator’s stock after purchasing an additional 311 shares during the quarter. Park Place Capital Corp’s holdings in CVS Health were worth $120,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVS. Vanguard Group Inc. grew its stake in shares of CVS Health by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after buying an additional 533,659 shares during the last quarter. Capital World Investors raised its stake in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Capital International Investors increased its stake in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the last quarter. Norges Bank bought a new position in shares of CVS Health during the 4th quarter valued at approximately $1,092,040,000. Finally, Capital Research Global Investors increased its position in shares of CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CVS. Barclays lowered their target price on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Robert W. Baird initiated coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target on the stock. Truist Financial restated a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Mizuho cut their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.05.

CVS Health Price Performance

NYSE:CVS traded down $0.71 during mid-day trading on Friday, hitting $59.32. The company’s stock had a trading volume of 8,695,521 shares, compared to its average volume of 9,014,376. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $74.47 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 0.57 and a beta of 0.52. The stock has a fifty day moving average of $59.27 and a 200-day moving average of $66.72.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 earnings per share. As a group, equities analysts forecast that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is 46.75%.

CVS Health Company 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.