Gladstone Institutional Advisory LLC Increases Position in CVS Health Co. (NYSE:CVS)

Gladstone Institutional Advisory LLC increased its position in CVS Health Co. (NYSE:CVS) by 24.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,556 shares of the pharmacy operator’s stock after acquiring an additional 2,832 shares during the period. Gladstone Institutional Advisory LLC’s holdings in CVS Health were worth $915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in CVS. Silver Coast Investments LLC increased its stake in shares of CVS Health by 16.0% in the third quarter. Silver Coast Investments LLC now owns 8,950 shares of the pharmacy operator’s stock worth $563,000 after acquiring an additional 1,236 shares during the period. Focus Financial Network Inc. increased its position in shares of CVS Health by 2.9% in the third quarter. Focus Financial Network Inc. now owns 18,061 shares of the pharmacy operator’s stock valued at $1,136,000 after buying an additional 512 shares in the last quarter. Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter worth $32,000. United Asset Strategies Inc. lifted its stake in CVS Health by 2.4% in the 3rd quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator’s stock valued at $580,000 after buying an additional 212 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of CVS Health by 11.0% in the third quarter. AustralianSuper Pty Ltd now owns 1,537,791 shares of the pharmacy operator’s stock worth $96,696,000 after acquiring an additional 151,901 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $55.81 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 fifty day simple moving average of $59.66 and a 200-day simple moving average of $59.56. The stock has a market cap of $70.21 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25.

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 for 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 business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. Equities analysts expect that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 47.33%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVS shares. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, Mizuho lowered their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.17.

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.