OVERSEA CHINESE BANKING Corp Ltd Has $1.05 Million Holdings in CVS Health Co. (NYSE:CVS)

OVERSEA CHINESE BANKING Corp Ltd grew its position in CVS Health Co. (NYSE:CVS) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,760 shares of the pharmacy operator’s stock after purchasing an additional 1,745 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in CVS Health were worth $1,048,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVS. Livelsberger Financial Advisory bought a new position in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health in the 3rd quarter worth about $32,000. First Community Trust NA boosted its holdings in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth approximately $33,000. Finally, ORG Partners LLC increased its holdings 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 worth $35,000 after purchasing an additional 592 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Mizuho cut their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company decreased their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

CVS Health Price Performance

Shares of CVS opened at $54.04 on Wednesday. The business has a 50-day simple moving average of $59.53 and a two-hundred day simple moving average of $58.97. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a market cap of $68.00 billion, a PE ratio of 13.72, a PEG ratio of 0.97 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS 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 the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. Analysts anticipate that CVS Health Co. will post 5.44 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is presently 67.51%.

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.