Blue Trust Inc. Grows Stock Position in CVS Health Co. (NYSE:CVS)

Blue Trust Inc. boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.2% in the third quarter, HoldingsChannel.com reports. The fund owned 9,673 shares of the pharmacy operator’s stock after buying an additional 562 shares during the quarter. Blue Trust Inc.’s holdings in CVS Health were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pzena Investment Management LLC lifted its stake in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Capital International Investors boosted its stake in shares of CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares during the last quarter. Capital World Investors increased its position in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. State of Michigan Retirement System raised its stake 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, Swedbank AB acquired a new stake in shares of CVS Health during the 1st quarter worth about $110,816,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Truist Financial raised their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Barclays raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $63.00 to $82.00 in a research note on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Trading Down 3.6 %

CVS opened at $58.18 on Tuesday. The firm has a market capitalization of $73.04 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.93 and a beta of 0.54. The firm’s 50 day moving average is $59.85 and its 200-day moving average is $60.32. 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 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 for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. Analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm 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. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.57%. CVS Health’s dividend payout ratio is presently 46.75%.

CVS Health Company 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.