Sequoia Financial Advisors LLC Purchases 15,741 Shares of CVS Health Co. (NYSE:CVS)

Sequoia Financial Advisors LLC lifted its position in shares of CVS Health Co. (NYSE:CVS) by 49.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,708 shares of the pharmacy operator’s stock after acquiring an additional 15,741 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CVS Health were worth $3,000,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the 3rd quarter valued at $31,000. First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health during the 3rd quarter valued at $33,000. ORG Partners LLC boosted its holdings in shares of CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of CVS Health by 71.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 247 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $56.78 on Thursday. 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 50 day moving average price of $59.88 and a two-hundred day moving average price of $60.17. The firm has a market capitalization of $71.28 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

Several research analysts have commented on the company. 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 report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Barclays cut their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $74.89.

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.