Fairfield Financial Advisors LTD Makes New $40,000 Investment in CVS Health Co. (NYSE:CVS)

Fairfield Financial Advisors LTD acquired a new stake in CVS Health Co. (NYSE:CVS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 685 shares of the pharmacy operator’s stock, valued at approximately $40,000.

Other large investors have also recently made changes to their positions in the company. Gryphon Financial Partners LLC increased its holdings in CVS Health by 48.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after buying an additional 2,653 shares during the last quarter. Norges Bank acquired a new stake in shares of CVS Health during the 4th quarter worth about $1,092,040,000. Dynamic Technology Lab Private Ltd purchased a new stake in CVS Health during the fourth quarter worth approximately $1,015,000. Coldstream Capital Management Inc. increased its stake in CVS Health by 8.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 19,567 shares of the pharmacy operator’s stock valued at $1,545,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Balentine LLC raised its holdings in CVS Health by 7.3% during the fourth quarter. Balentine LLC now owns 8,430 shares of the pharmacy operator’s stock worth $666,000 after purchasing an additional 572 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.8 %

CVS Health stock opened at $57.98 on Monday. The stock’s 50 day moving average price is $58.28 and its 200 day moving average price is $63.00. The company has a market cap of $72.79 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last announced 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 business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 EPS. On average, sell-side analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on CVS. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Robert W. Baird started coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Barclays cut their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Baird R W upgraded shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.10.

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.