CVS Health Co. (NYSE:CVS) Position Increased by World Investment Advisors LLC

World Investment Advisors LLC increased its stake in shares of CVS Health Co. (NYSE:CVS) by 280.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,543 shares of the pharmacy operator’s stock after buying an additional 20,308 shares during the quarter. World Investment Advisors LLC’s holdings in CVS Health were worth $1,732,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the 3rd quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the 3rd quarter valued at approximately $33,000. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVS. Truist Financial reissued a “buy” rating and issued a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho lowered their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.50.

CVS Health Trading Down 0.4 %

Shares of CVS opened at $49.37 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $48.01 and a 1-year high of $83.25. The stock has a market capitalization of $62.13 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.89 and a beta of 0.54. The business’s 50-day moving average price is $58.34 and its 200 day moving average price is $58.64.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that CVS Health Co. will post 5.32 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 5.39%. CVS Health’s dividend payout ratio is 67.51%.

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.