SOL Capital Management CO Acquires 9,075 Shares of CVS Health Co. (NYSE:CVS)

SOL Capital Management CO increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,142 shares of the pharmacy operator’s stock after acquiring an additional 9,075 shares during the quarter. SOL Capital Management CO’s holdings in CVS Health were worth $4,473,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CVS. Deerfield Management Company L.P. Series C acquired a new stake in CVS Health during the second quarter worth approximately $57,584,000. CX Institutional grew its holdings in shares of CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after purchasing an additional 65,259 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of CVS Health by 27.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after purchasing an additional 145,158 shares during the period. First Hawaiian Bank lifted its position 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 purchasing an additional 23,213 shares during the period. Finally, Czech National Bank grew its stake in CVS Health by 7.2% during the third quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after buying an additional 17,206 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $56.78 on Thursday. The firm has a market capitalization of $71.28 billion, a P/E ratio of 9.98, a P/E/G 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 fifty day moving average of $59.88 and a 200-day moving average of $60.17. 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 posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several analyst reports. Truist Financial increased their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. 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 a consensus rating of “Moderate Buy” and an average price target of $74.89.

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.