Heritage Financial Services LLC Boosts Stock Position in CVS Health Co. (NYSE:CVS)

Heritage Financial Services LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 3.5% during the third quarter, Holdings Channel.com reports. The fund owned 8,814 shares of the pharmacy operator’s stock after acquiring an additional 296 shares during the quarter. Heritage Financial Services LLC’s holdings in CVS Health were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter worth $31,000. First Community Trust NA boosted its holdings in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the third quarter valued at $33,000. ORG Partners LLC raised its stake in shares of CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in CVS Health by 71.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $56.30 on Friday. The business has a 50-day simple moving average of $59.88 and a 200-day simple 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. The stock has a market cap of $70.68 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its 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. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. On average, equities analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Evercore ISI boosted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.58.

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.