Hazlett Burt & Watson Inc. Purchases 229 Shares of CVS Health Co. (NYSE:CVS)

Hazlett Burt & Watson Inc. grew its holdings in CVS Health Co. (NYSE:CVS) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,575 shares of the pharmacy operator’s stock after purchasing an additional 229 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in CVS Health were worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PDS Planning Inc purchased a new stake in shares of CVS Health in the third quarter worth approximately $243,000. Asset Management One Co. Ltd. raised its stake in CVS Health by 9.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 514,093 shares of the pharmacy operator’s stock valued at $32,326,000 after acquiring an additional 46,471 shares during the period. National Pension Service grew its stake in CVS Health by 17.4% in the 3rd quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock valued at $178,793,000 after buying an additional 421,416 shares in the last quarter. Cohen Capital Management Inc. boosted its holdings in shares of CVS Health by 0.8% in the third quarter. Cohen Capital Management Inc. now owns 154,797 shares of the pharmacy operator’s stock worth $9,734,000 after acquiring an additional 1,200 shares during the period. Finally, Fort L.P. bought a new position in shares of CVS Health in the third quarter worth $202,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $54.65 on Tuesday. The company’s fifty day moving average price is $59.58 and its 200 day moving average price is $59.39. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a market capitalization of $68.75 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company posted $2.21 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.87%. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVS shares. Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays reduced their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report 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 data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $73.11.

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.