CVS Health Co. (NYSE:CVS) Holdings Raised by World Investment Advisors LLC

World Investment Advisors LLC grew its stake in shares of CVS Health Co. (NYSE:CVS) by 280.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 27,543 shares of the pharmacy operator’s stock after acquiring an additional 20,308 shares during the period. World Investment Advisors LLC’s holdings in CVS Health were worth $1,732,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Sanctuary Advisors LLC raised its stake in shares of CVS Health by 42.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 192,436 shares of the pharmacy operator’s stock worth $11,163,000 after purchasing an additional 56,890 shares in the last quarter. Westside Investment Management Inc. lifted its stake in CVS Health by 4.6% in the third quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator’s stock valued at $4,041,000 after acquiring an additional 2,856 shares during the last quarter. Soltis Investment Advisors LLC grew its position in CVS Health by 1.3% in the third quarter. Soltis Investment Advisors LLC now owns 100,789 shares of the pharmacy operator’s stock worth $6,338,000 after acquiring an additional 1,342 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of CVS Health by 124.6% during the 3rd quarter. Toronto Dominion Bank now owns 1,508,071 shares of the pharmacy operator’s stock valued at $94,828,000 after purchasing an additional 836,569 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVS. Piper Sandler reduced their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Truist Financial reiterated a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. UBS Group increased their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Trading Down 0.4 %

Shares of CVS opened at $49.37 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a 50 day simple moving average of $58.34 and a 200-day simple moving average of $58.64. CVS Health Co. has a 1 year low of $48.01 and a 1 year high of $83.25. The stock has a market cap of $62.13 billion, a PE ratio of 12.53, a PEG ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 EPS. On average, sell-side analysts predict that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

About CVS Health

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.