Commerzbank Aktiengesellschaft FI Raises Stake in CVS Health Co. (NYSE:CVS)

Commerzbank Aktiengesellschaft FI lifted its holdings in CVS Health Co. (NYSE:CVS) by 187.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 79,410 shares of the pharmacy operator’s stock after acquiring an additional 51,775 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in CVS Health were worth $4,994,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Garland Capital Management Inc. boosted its position in CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC boosted its holdings in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the period. Silverlake Wealth Management LLC grew its position in CVS Health by 1.6% during the 1st quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock worth $894,000 after acquiring an additional 173 shares during the last quarter. Plimoth Trust Co. LLC increased its stake in CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays lowered their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.89.

CVS Health Stock Performance

CVS Health stock opened at $56.87 on Wednesday. The stock’s 50 day moving average is $59.87 and its 200 day moving average is $60.19. The company has a market capitalization of $71.39 billion, a P/E ratio of 9.99, a PEG ratio of 0.93 and a beta of 0.54. CVS Health Co. has a twelve month low of $52.77 and a twelve 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 issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm 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 company earned $2.21 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.