WCG Wealth Advisors LLC Has $1.71 Million Stake in CVS Health Co. (NYSE:CVS)

WCG Wealth Advisors LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 24.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 28,866 shares of the pharmacy operator’s stock after acquiring an additional 5,668 shares during the period. WCG Wealth Advisors LLC’s holdings in CVS Health were worth $1,705,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Steph & Co. grew its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after purchasing an additional 16,840 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in CVS Health in the 4th quarter valued at approximately $151,000. State of Tennessee Treasury Department increased its position in CVS Health by 10.4% in the 4th quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock worth $49,336,000 after buying an additional 58,836 shares during the period. Finally, BOCHK Asset Management Ltd bought a new stake in shares of CVS Health in the fourth quarter valued at approximately $2,116,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVS. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Evercore ISI cut their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Barclays cut their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Baird R W upgraded CVS Health to a “hold” rating in a research report on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Price Performance

NYSE:CVS opened at $58.40 on Friday. The firm has a market cap of $73.31 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company’s 50-day moving average price is $58.34 and its two-hundred day moving average price is $62.71. 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 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations 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 was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $2.21 EPS. On average, equities analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.55%. CVS Health’s dividend payout ratio (DPR) 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.