Oldfield Partners LLP Boosts Stake in CVS Health Co. (NYSE:CVS)

Oldfield Partners LLP raised its position in CVS Health Co. (NYSE:CVS) by 37.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,200 shares of the pharmacy operator’s stock after purchasing an additional 1,700 shares during the quarter. CVS Health comprises 0.1% of Oldfield Partners LLP’s investment portfolio, making the stock its 26th biggest position. Oldfield Partners LLP’s holdings in CVS Health were worth $366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after acquiring an additional 533,659 shares during the last quarter. Capital World Investors grew its position in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors grew its position in CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Norges Bank purchased a new position in CVS Health in the fourth quarter worth approximately $1,092,040,000. Finally, Capital Research Global Investors grew its position in CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after acquiring an additional 184,297 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.8 %

Shares of NYSE CVS opened at $57.98 on Monday. The stock has a market cap of $72.79 billion, a P/E ratio of 10.19, a PEG ratio of 0.79 and a beta of 0.53. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The business’s fifty day simple moving average is $58.28 and its 200-day simple moving average is $63.00.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period last year, the firm earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

Wall Street Analyst Weigh In

CVS has been the subject of several analyst reports. Robert W. Baird initiated coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Evercore ISI lowered their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Baird R W upgraded CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

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.