Founders Financial Securities LLC Boosts Stock Position in CVS Health Co. (NYSE:CVS)

Founders Financial Securities LLC raised its stake in CVS Health Co. (NYSE:CVS) by 3.1% during the second quarter, Holdings Channel.com reports. The firm owned 13,906 shares of the pharmacy operator’s stock after purchasing an additional 420 shares during the quarter. Founders Financial Securities LLC’s holdings in CVS Health were worth $821,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Novare Capital Management LLC raised its position in CVS Health by 6.7% in the 2nd quarter. Novare Capital Management LLC now owns 96,383 shares of the pharmacy operator’s stock valued at $5,692,000 after purchasing an additional 6,081 shares in the last quarter. CM Management LLC acquired a new stake in CVS Health in the 2nd quarter valued at about $1,772,000. Mraz Amerine & Associates Inc. raised its position in CVS Health by 53.3% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 18,621 shares of the pharmacy operator’s stock valued at $1,100,000 after purchasing an additional 6,473 shares in the last quarter. Resonant Capital Advisors LLC raised its position in CVS Health by 2.5% in the 2nd quarter. Resonant Capital Advisors LLC now owns 42,564 shares of the pharmacy operator’s stock valued at $2,514,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Canal Insurance CO raised its position in shares of CVS Health by 5.3% during the 2nd quarter. Canal Insurance CO now owns 200,000 shares of the pharmacy operator’s stock worth $11,812,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $59.30 on Thursday. The company has a market cap of $74.44 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.80 and a beta of 0.52. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The business has a fifty day simple moving average of $58.33 and a 200-day simple moving average of $64.04.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 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 return on equity of 12.72% and a net margin of 1.98%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 earnings per share. Equities research analysts forecast that CVS Health Co. will post 6.52 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company raised their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Argus cut their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Robert W. Baird assumed coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Finally, Evercore ISI cut their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.48.

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.