Charles Schwab Investment Management Inc. Buys 304,386 Shares of CVS Health Co. (NYSE:CVS)

Charles Schwab Investment Management Inc. raised its stake in CVS Health Co. (NYSE:CVS) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,208,668 shares of the pharmacy operator’s stock after acquiring an additional 304,386 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.97% of CVS Health worth $767,681,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the third quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in CVS Health during the third quarter valued at $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the third quarter valued at $32,000. First Community Trust NA grew its stake in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $66.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Trading Up 0.4 %

Shares of NYSE CVS opened at $57.07 on Friday. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $59.20 and a two-hundred day simple moving average of $58.60. The firm has a market cap of $71.81 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55.

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, 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 company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.66%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.