AQR Capital Management LLC Buys 1,327,855 Shares of CVS Health Co. (NYSE:CVS)

AQR Capital Management LLC boosted its stake in CVS Health Co. (NYSE:CVS) by 33.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,289,788 shares of the pharmacy operator’s stock after acquiring an additional 1,327,855 shares during the period. CVS Health accounts for about 0.5% of AQR Capital Management LLC’s holdings, making the stock its 24th biggest position. AQR Capital Management LLC owned about 0.42% of CVS Health worth $310,722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. Steph & Co. lifted its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Douglas Lane & Associates LLC lifted its position in shares of 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 buying an additional 16,840 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in CVS Health in the 4th quarter worth about $151,000. State of Tennessee Treasury Department raised its stake 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 valued at $49,336,000 after acquiring an additional 58,836 shares during the period. Finally, BOCHK Asset Management Ltd bought a new position in CVS Health during the fourth quarter worth about $2,116,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.0 %

NYSE CVS opened at $58.65 on Thursday. The business’s 50-day moving average is $58.24 and its 200 day moving average is $62.20. The stock has a market capitalization of $73.63 billion, a PE ratio of 10.31, a PEG ratio of 0.81 and a beta of 0.53. 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 Co. has a 1 year low of $52.77 and a 1 year 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 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 business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. 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 report on Thursday, August 8th. Barclays dropped their target price on shares of 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. Robert W. Baird started coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.10.

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.