Stephens Inc. AR grew its holdings in CVS Health Corp (NYSE:CVS) by 42.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 142,640 shares of the pharmacy operator’s stock after acquiring an additional 42,800 shares during the quarter. Stephens Inc. AR’s holdings in CVS Health were worth $7,772,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bay Harbor Wealth Management LLC lifted its holdings in shares of CVS Health by 1,871.4% during the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 524 shares during the period. Manchester Financial Inc. acquired a new stake in shares of CVS Health during the second quarter worth about $31,000. Hudock Capital Group LLC lifted its holdings in shares of CVS Health by 54.0% during the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 202 shares during the period. C J Advisory Inc acquired a new stake in shares of CVS Health during the first quarter worth about $33,000. Finally, Capital Financial Planning LLC acquired a new stake in shares of CVS Health during the fourth quarter worth about $44,000. 77.18% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on CVS shares. Evercore ISI set a $63.00 target price on CVS Health and gave the stock a “buy” rating in a report on Wednesday, August 7th. Standpoint Research raised CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. UBS Group decreased their target price on CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Citigroup lifted their target price on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Guggenheim started coverage on CVS Health in a report on Thursday, April 18th. They set a “buy” rating and a $75.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $75.14.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.19. The company had revenue of $63.43 billion during the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. CVS Health’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. Research analysts predict that CVS Health Corp will post 6.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, July 24th. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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