CVS Health Co. (NYSE:CVS) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 12.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,980 shares of the pharmacy operator’s stock after purchasing an additional 1,286 shares during the quarter. Wedmont Private Capital’s holdings in CVS Health were worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in CVS Health by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after buying an additional 533,659 shares in the last quarter. Capital World Investors grew its holdings in 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 buying an additional 3,232,172 shares in the last quarter. Capital International Investors grew its holdings in 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 buying an additional 4,226,225 shares in the last quarter. Capital Research Global Investors grew its holdings in CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after buying an additional 184,297 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings 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 worth $764,023,000 after buying an additional 7,382,931 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

CVS opened at $66.63 on Friday. The stock has a fifty day moving average of $59.12 and a 200-day moving average of $61.15. The firm has a market capitalization of $83.65 billion, a P/E ratio of 11.71, a PEG ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. 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 (NYSE:CVS) last released its 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. The company had revenue of $91.23 billion during 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 company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 earnings per share. Equities analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 3.99%. CVS Health’s dividend payout ratio is 46.75%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $63.00 to $82.00 in a research note on Thursday. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Wells Fargo & Company increased their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.26.

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.