CVS Health Co. (NYSE:CVS) Holdings Boosted by Drexel Morgan & Co.

Drexel Morgan & Co. grew its stake in shares of CVS Health Co. (NYSE:CVS) by 99.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,165 shares of the pharmacy operator’s stock after purchasing an additional 99,900 shares during the quarter. CVS Health makes up 2.5% of Drexel Morgan & Co.’s portfolio, making the stock its 12th largest holding. Drexel Morgan & Co.’s holdings in CVS Health were worth $11,822,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital International Investors grew its stake in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the last quarter. Capital World Investors increased its holdings in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. State of Michigan Retirement System lifted its position in CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in CVS Health during the 4th quarter valued at about $111,209,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CVS Health Price Performance

NYSE CVS opened at $58.40 on Friday. The stock has a market capitalization of $73.31 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.79 and a beta of 0.53. 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 business’s fifty day moving average is $58.34 and its two-hundred day moving average is $62.71. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate 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%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 earnings per share. On average, research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 4.55%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.

CVS Health 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.