1ST Source Bank Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

1ST Source Bank raised its holdings in CVS Health Co. (NYSE:CVS) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,151 shares of the pharmacy operator’s stock after purchasing an additional 1,316 shares during the quarter. 1ST Source Bank’s holdings in CVS Health were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $34,000. Steph & Co. boosted its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of CVS Health in the 4th quarter worth approximately $36,000. Finally, Scarborough Advisors LLC acquired a new position in CVS Health during the fourth quarter worth $37,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Barclays dropped their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Performance

NYSE CVS opened at $57.98 on Friday. The business’s 50-day simple moving average is $58.28 and its 200-day simple moving average is $63.08. The firm has a market capitalization of $72.94 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.79 and a beta of 0.53. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.

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.