Integrated Advisors Network LLC Increases Stake in CVS Health Co. (NYSE:CVS)

Integrated Advisors Network LLC grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,625 shares of the pharmacy operator’s stock after acquiring an additional 200 shares during the period. Integrated Advisors Network LLC’s holdings in CVS Health were worth $1,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Gibraltar Capital Management Inc. lifted its position in shares of CVS Health by 2.1% during the 3rd quarter. Gibraltar Capital Management Inc. now owns 139,592 shares of the pharmacy operator’s stock valued at $8,778,000 after buying an additional 2,845 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in CVS Health by 82.6% during the 3rd quarter. Pallas Capital Advisors LLC now owns 13,616 shares of the pharmacy operator’s stock worth $856,000 after acquiring an additional 6,158 shares during the period. Concord Wealth Partners lifted its holdings in CVS Health by 40.7% during the third quarter. Concord Wealth Partners now owns 2,167 shares of the pharmacy operator’s stock valued at $136,000 after purchasing an additional 627 shares in the last quarter. Asahi Life Asset Management CO. LTD. increased its stake in shares of CVS Health by 7.6% in the third quarter. Asahi Life Asset Management CO. LTD. now owns 7,930 shares of the pharmacy operator’s stock worth $499,000 after purchasing an additional 560 shares in the last quarter. Finally, Insight Folios Inc raised its position in shares of CVS Health by 3.5% during the 3rd quarter. Insight Folios Inc now owns 8,250 shares of the pharmacy operator’s stock valued at $519,000 after purchasing an additional 282 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the subject of a number of analyst reports. Barclays cut their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $56.29 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $70.66 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.84 and a beta of 0.54. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm’s 50-day moving average is $59.73 and its 200 day moving average is $59.67.

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, topping 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 for the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts predict that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is presently 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.