Associated Banc Corp Acquires 250 Shares of CVS Health Co. (NYSE:CVS)

Associated Banc Corp lifted its holdings in CVS Health Co. (NYSE:CVS) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 140,171 shares of the pharmacy operator’s stock after buying an additional 250 shares during the quarter. Associated Banc Corp’s holdings in CVS Health were worth $8,814,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC lifted its position in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the period. State of Michigan Retirement System lifted its holdings in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. Swedbank AB bought a new position in shares of CVS Health during the first quarter worth about $110,816,000. Finally, AQR Capital Management LLC raised its position in CVS Health by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after buying an additional 1,327,855 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS Health stock traded up $1.79 during midday trading on Monday, hitting $59.80. 2,742,354 shares of the company traded hands, compared to its average volume of 11,313,326. The stock has a market cap of $75.25 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm’s fifty day moving average price is $59.21 and its 200-day moving average price is $58.63. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during 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 company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. As a group, sell-side analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. 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 4.45%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Mizuho reduced 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 note on Thursday, October 24th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. UBS Group raised their price target 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, Truist Financial reissued a “buy” rating and issued a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $70.33.

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.