CVS Health Co. (NYSE:CVS) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 141.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,074 shares of the pharmacy operator’s stock after buying an additional 2,388 shares during the quarter. Zions Bancorporation N.A.’s holdings in CVS Health were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in CVS Health by 74.9% during the second quarter. Federated Hermes Inc. now owns 501,984 shares of the pharmacy operator’s stock worth $29,647,000 after purchasing an additional 215,024 shares in the last quarter. Meeder Advisory Services Inc. grew its stake in CVS Health by 28.6% in the 2nd quarter. Meeder Advisory Services Inc. now owns 18,718 shares of the pharmacy operator’s stock valued at $1,106,000 after acquiring an additional 4,161 shares during the last quarter. Trueblood Wealth Management LLC increased its holdings in CVS Health by 35.1% during the 2nd quarter. Trueblood Wealth Management LLC now owns 3,854 shares of the pharmacy operator’s stock valued at $228,000 after acquiring an additional 1,001 shares in the last quarter. American Century Companies Inc. raised its position in CVS Health by 3.0% during the second quarter. American Century Companies Inc. now owns 968,121 shares of the pharmacy operator’s stock worth $57,177,000 after acquiring an additional 28,250 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in shares of CVS Health by 8.0% in the second quarter. Bahl & Gaynor Inc. now owns 17,105 shares of the pharmacy operator’s stock valued at $1,010,000 after purchasing an additional 1,272 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVS has been the subject of several research reports. 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. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Robert W. Baird began coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Up 0.8 %

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

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter last year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

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

About CVS Health

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.