Texas Capital Bank Wealth Management Services Inc Takes Position in CVS Health Co. (NYSE:CVS)

Texas Capital Bank Wealth Management Services Inc acquired a new stake in CVS Health Co. (NYSE:CVS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,414 shares of the pharmacy operator’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. Assetmark Inc. grew its stake in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares during the period. Cullinan Associates Inc. boosted its stake in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the period. Sompo Asset Management Co. Ltd. boosted its stake in shares of CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the period. Deerfield Management Company L.P. Series C bought a new position in CVS Health during the 2nd quarter valued at $57,584,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in CVS Health by 5.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after acquiring an additional 24,285 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday. TD Cowen boosted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Royal Bank of Canada lowered their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $70.50.

CVS Health Price Performance

Shares of CVS Health stock opened at $55.27 on Friday. The firm has a market cap of $69.55 billion, a PE ratio of 14.03, a PEG ratio of 0.99 and a beta of 0.54. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The stock has a 50 day moving average of $59.39 and a 200 day moving average of $58.79. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly 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. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 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 6.3% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.81%. CVS Health’s payout ratio is currently 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.