Vest Financial LLC Takes $512,000 Position in CVS Health Co. (NYSE:CVS)

Vest Financial LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 8,138 shares of the pharmacy operator’s stock, valued at approximately $512,000.

Other large investors have also bought and sold shares of the company. Garland Capital Management Inc. lifted its position in shares of CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares during the last quarter. Silverlake Wealth Management LLC grew its holdings in shares of CVS Health by 1.6% in the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after acquiring an additional 173 shares in the last quarter. Plimoth Trust Co. LLC lifted its holdings in CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after acquiring an additional 174 shares during the period. Finally, Hexagon Capital Partners LLC boosted its position in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 3.6 %

Shares of CVS stock opened at $58.18 on Tuesday. The company has a market capitalization of $73.04 billion, a PE ratio of 10.22, a price-to-earnings-growth 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 business’s fifty day moving average is $59.85 and its 200 day moving average is $60.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued 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 firm 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 company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $2.21 EPS. On average, equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $63.00 to $82.00 in a research note on Thursday, October 10th. Evercore ISI boosted their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Finally, Truist Financial raised their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $75.26.

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.