Secure Asset Management LLC Increases Stock Position in CVS Health Co. (NYSE:CVS)

Secure Asset Management LLC raised its position in shares of CVS Health Co. (NYSE:CVS) by 38.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,247 shares of the pharmacy operator’s stock after buying an additional 8,121 shares during the period. Secure Asset Management LLC’s holdings in CVS Health were worth $1,839,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVS. Pzena Investment Management LLC lifted its position in shares of 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 worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Capital International Investors lifted its position in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital World Investors lifted its position 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 purchasing an additional 3,232,172 shares during the period. State of Michigan Retirement System lifted its position in shares of 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 worth $118,455,000 after purchasing an additional 1,606,500 shares during the period. Finally, Swedbank AB purchased a new stake in shares of CVS Health in the 1st quarter worth about $110,816,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS opened at $63.67 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market cap of $79.93 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.93 and a beta of 0.54. The company’s 50 day moving average is $59.73 and its 200 day moving average is $60.75. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25.

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

CVS Health Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 4.18%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $63.00 to $82.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

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.