Charles Schwab Trust Co Raises Stake in CVS Health Co. (NYSE:CVS)

Charles Schwab Trust Co boosted its stake in CVS Health Co. (NYSE:CVS) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,120 shares of the pharmacy operator’s stock after purchasing an additional 357 shares during the quarter. Charles Schwab Trust Co’s holdings in CVS Health were worth $573,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Deerfield Management Company L.P. Series C bought a new position in shares of CVS Health during the second quarter worth about $57,584,000. Susquehanna Fundamental Investments LLC lifted its holdings in shares of CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after acquiring an additional 145,158 shares during the period. Steph & Co. increased its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares in the last quarter. Douglas Lane & Associates LLC increased its position in CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after purchasing an additional 16,840 shares during the period. Finally, First Hawaiian Bank boosted its holdings in CVS Health by 30.1% during the second quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after buying an additional 23,213 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 0.5 %

Shares of NYSE:CVS traded down $0.35 during trading on Friday, hitting $66.50. The company’s stock had a trading volume of 7,085,729 shares, compared to its average volume of 11,009,785. 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 business has a 50 day moving average price of $58.97 and a two-hundred day moving average price of $61.24. The company has a market capitalization of $83.48 billion, a PE ratio of 11.78, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the firm earned $2.21 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

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.