Empower Advisory Group LLC Purchases 100,093 Shares of CVS Health Co. (NYSE:CVS)

Empower Advisory Group LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 973,078 shares of the pharmacy operator’s stock after acquiring an additional 100,093 shares during the period. Empower Advisory Group LLC’s holdings in CVS Health were worth $61,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. Pzena Investment Management LLC raised its position in shares of CVS Health by 132.9% during the second 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 during the last quarter. Capital International Investors raised its position 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 buying an additional 4,226,225 shares during the last quarter. Capital World Investors grew its holdings in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. Finally, State of Michigan Retirement System raised its stake in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after acquiring an additional 1,606,500 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 3.2 %

CVS stock opened at $54.04 on Wednesday. The firm has a 50 day moving average of $59.53 and a 200 day moving average of $58.97. The stock has a market capitalization of $68.00 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.97 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.44 earnings per share for the current 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 paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVS shares. Truist Financial increased their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Mizuho reduced their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Barclays reduced their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.