Aljian Capital Management LLC Makes New $694,000 Investment in CVS Health Co. (NYSE:CVS)

Aljian Capital Management LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the 3rd quarter, HoldingsChannel reports. The fund bought 11,030 shares of the pharmacy operator’s stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the third quarter valued at approximately $32,000. First Community Trust NA grew its holdings in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the third quarter valued at $33,000. Finally, ORG Partners LLC boosted its position in shares of CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 3.4 %

NYSE CVS opened at $53.19 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The company’s 50 day moving average price is $59.23 and its 200 day moving average price is $58.60. The firm has a market capitalization of $66.93 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping 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 firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the company earned $2.21 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.00%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVS. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Mizuho reduced their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company lowered their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Truist Financial lifted their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and raised their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.44.

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.