CVS Health Co. (NYSE:CVS) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in CVS Health Co. (NYSE:CVS) by 35.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,666 shares of the pharmacy operator’s stock after acquiring an additional 34,728 shares during the period. Advisors Asset Management Inc.’s holdings in CVS Health were worth $8,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted its stake in CVS Health by 55.5% in the 1st quarter. Bessemer Group Inc. now owns 73,343 shares of the pharmacy operator’s stock valued at $5,849,000 after buying an additional 26,173 shares in the last quarter. Crewe Advisors LLC purchased a new stake in CVS Health in the 1st quarter valued at approximately $40,000. EntryPoint Capital LLC lifted its stake in CVS Health by 127.5% in the 1st quarter. EntryPoint Capital LLC now owns 1,397 shares of the pharmacy operator’s stock valued at $111,000 after buying an additional 783 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in CVS Health by 21.8% in the 1st quarter. CreativeOne Wealth LLC now owns 9,414 shares of the pharmacy operator’s stock valued at $750,000 after buying an additional 1,688 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in CVS Health by 24.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 26,996 shares of the pharmacy operator’s stock valued at $2,153,000 after buying an additional 5,229 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial reissued a “buy” rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research note on Wednesday. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.28.

CVS Health Stock Performance

Shares of NYSE CVS opened at $56.83 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $59.18 and its two-hundred day moving average price is $58.61. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The stock has a market capitalization of $71.52 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. As a group, sell-side analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

CVS Health 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.