Associated Banc Corp Has $8.81 Million Position in CVS Health Co. (NYSE:CVS)

Associated Banc Corp grew its position in CVS Health Co. (NYSE:CVS) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,171 shares of the pharmacy operator’s stock after purchasing an additional 250 shares during the quarter. Associated Banc Corp’s holdings in CVS Health were worth $8,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. grew its position in shares of CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after purchasing an additional 36,132 shares during the last quarter. Cullinan Associates Inc. lifted its holdings in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health in the second quarter worth $57,584,000. Oppenheimer Asset Management Inc. increased its position in CVS Health by 5.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after acquiring an additional 24,285 shares during the period. Finally, Sompo Asset Management Co. Ltd. raised its stake in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 3.1 %

CVS traded up $1.79 during trading on Monday, reaching $59.80. 2,742,354 shares of the company’s stock were exchanged, compared to its average volume of 11,313,326. The company’s fifty day moving average price is $59.21 and its 200-day moving average price is $58.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market capitalization of $75.25 billion, a PE ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating 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 business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Mizuho lowered their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Truist Financial reissued a “buy” rating and issued a $67.00 price target (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

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.