Abich Financial Wealth Management LLC Makes New Investment in CVS Health Co. (NYSE:CVS)

Abich Financial Wealth Management LLC acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,681 shares of the pharmacy operator’s stock, valued at approximately $217,000.

Several other hedge funds have also recently modified their holdings of CVS. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health in the 4th quarter worth $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health in the fourth quarter worth about $34,000. Steph & Co. boosted its stake in CVS Health by 192.0% during the first 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. Kapitalo Investimentos Ltda purchased a new position in CVS Health during the 4th quarter valued at approximately $36,000. Finally, Scarborough Advisors LLC bought a new stake in CVS Health in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CVS. Baird R W raised shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Monday, September 16th. Robert W. Baird began coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Wells Fargo & Company lifted their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Stock Performance

CVS Health stock opened at $58.11 on Wednesday. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a market capitalization of $73.10 billion, a PE ratio of 10.21, a P/E/G ratio of 0.81 and a beta of 0.53. The company has a 50 day moving average price of $58.24 and a 200-day moving average price of $62.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The business 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 for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 EPS. As a group, equities analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.58%. CVS Health’s payout ratio is presently 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.