Strengthening Families & Communities LLC Increases Stock Holdings in CVS Health Co. (NYSE:CVS)

Strengthening Families & Communities LLC grew its stake in CVS Health Co. (NYSE:CVS) by 13.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,218 shares of the pharmacy operator’s stock after buying an additional 3,202 shares during the quarter. Strengthening Families & Communities LLC’s holdings in CVS Health were worth $1,711,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. Pzena Investment Management LLC boosted its stake in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares during the period. Capital International Investors lifted its stake in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors lifted its stake in CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 3.4 %

Shares of CVS stock opened at $53.19 on Monday. The business’s fifty day moving average price is $59.23 and its 200 day moving average price is $58.60. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The firm has a market capitalization of $66.93 billion, a PE ratio of 13.50, a P/E/G ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the business earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 5.00%. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVS shares. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial lifted their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.44.

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.