Wellington Management Group LLP Buys 13,120 Shares of CVS Health Co. (NYSE:CVS)

Wellington Management Group LLP boosted its stake in CVS Health Co. (NYSE:CVS) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,248 shares of the pharmacy operator’s stock after buying an additional 13,120 shares during the quarter. Wellington Management Group LLP’s holdings in CVS Health were worth $14,101,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CVS. Garland Capital Management Inc. boosted its stake in shares of CVS Health by 0.3% in the 2nd 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 grew its stake in CVS Health by 7.2% during the third 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. Plimoth Trust Co. LLC increased its holdings in shares of 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 buying an additional 174 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after acquiring an additional 183 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. UBS Group lifted their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen boosted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Barclays reduced their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Stock Performance

Shares of CVS Health stock opened at $49.37 on Friday. The stock’s fifty day simple moving average is $58.34 and its 200 day simple moving average is $58.64. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $62.13 billion, a PE ratio of 12.53, a PEG ratio of 0.89 and a beta of 0.54. CVS Health Co. has a 12 month low of $48.01 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the business posted $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.39%. CVS Health’s payout ratio is 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.