Wealth Enhancement Advisory Services LLC raised its holdings in CVS Health Corp (NYSE:CVS) by 199.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,200 shares of the pharmacy operator’s stock after buying an additional 36,759 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CVS Health were worth $3,106,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. boosted its position in CVS Health by 8.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 872,806 shares of the pharmacy operator’s stock valued at $47,559,000 after buying an additional 71,496 shares during the period. Occidental Asset Management LLC boosted its position in CVS Health by 43.9% in the 2nd quarter. Occidental Asset Management LLC now owns 10,087 shares of the pharmacy operator’s stock valued at $550,000 after buying an additional 3,079 shares during the period. Buckhead Capital Management LLC boosted its position in CVS Health by 3.1% in the 2nd quarter. Buckhead Capital Management LLC now owns 143,049 shares of the pharmacy operator’s stock valued at $7,795,000 after buying an additional 4,256 shares during the period. SPC Financial Inc. purchased a new position in CVS Health in the 2nd quarter valued at approximately $243,000. Finally, Fernwood Investment Management LLC boosted its position in CVS Health by 2.1% in the 2nd quarter. Fernwood Investment Management LLC now owns 50,140 shares of the pharmacy operator’s stock valued at $2,732,000 after buying an additional 1,047 shares during the period. 77.18% of the stock is owned by institutional investors.
NYSE:CVS traded up $0.34 during midday trading on Thursday, hitting $58.90. 7,481,428 shares of the company were exchanged, compared to its average volume of 8,160,261. The stock has a fifty day moving average of $56.23. CVS Health Corp has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $76.38 billion, a P/E ratio of 8.32, a PEG ratio of 1.29 and a beta of 0.90.
The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 annualized dividend and a yield of 3.40%. CVS Health’s dividend payout ratio is currently 28.25%.
CVS has been the subject of several recent research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 price target on shares of CVS Health in a research report on Wednesday, May 1st. Credit Suisse Group cut shares of CVS Health from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $73.00 to $61.00 in a research report on Monday, April 29th. UBS Group decreased their price objective on shares of CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup lifted their price objective on shares of CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $75.14.
CVS Health Company 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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