tru Independence LLC Buys 1,103 Shares of CVS Health Co. (NYSE:CVS)

tru Independence LLC grew its stake in shares of CVS Health Co. (NYSE:CVS) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,887 shares of the pharmacy operator’s stock after acquiring an additional 1,103 shares during the period. tru Independence LLC’s holdings in CVS Health were worth $4,364,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Wedmont Private Capital increased its position in CVS Health by 0.8% in the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after buying an additional 146 shares during the last quarter. Moody National Bank Trust Division increased its holdings in CVS Health by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after acquiring an additional 150 shares during the last quarter. Landmark Financial Advisors LLC raised its stake in CVS Health by 3.8% in the 4th quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock valued at $329,000 after acquiring an additional 153 shares during the period. Garland Capital Management Inc. lifted its holdings in 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 during the last quarter. Finally, Sepio Capital LP boosted its position in CVS Health by 1.7% during the fourth quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock worth $782,000 after purchasing an additional 163 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $57.75 on Friday. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The business has a 50 day moving average of $58.29 and a 200 day moving average of $63.78. The company has a market capitalization of $72.50 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.80 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. On average, sell-side analysts predict that CVS Health Co. will post 6.52 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVS. Robert W. Baird initiated coverage on shares of CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target on the stock. Wells Fargo & Company raised their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Barclays dropped their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $72.48.

CVS Health Company 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.