Portside Wealth Group LLC Has $1.82 Million Stock Position in CVS Health Co. (NYSE:CVS)

Portside Wealth Group LLC decreased its position in CVS Health Co. (NYSE:CVS) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,879 shares of the pharmacy operator’s stock after selling 1,160 shares during the period. Portside Wealth Group LLC’s holdings in CVS Health were worth $1,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in shares of CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Capital World Investors lifted its holdings in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after buying an additional 12,819,148 shares during the period. Geode Capital Management LLC grew its holdings in CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after acquiring an additional 689,867 shares during the period. Capital International Investors lifted its stake in shares of CVS Health by 4.8% in the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock valued at $1,196,989,000 after purchasing an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC boosted its position in shares of CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 0.0%

NYSE:CVS opened at $63.62 on Wednesday. The company has a market cap of $80.48 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The business has a 50 day moving average price of $65.47 and a two-hundred day moving average price of $59.77. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. As a group, analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wolfe Research increased their target price on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Barclays reduced their price objective on shares of CVS Health from $82.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Finally, Argus set a $77.00 price objective on CVS Health in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $74.75.

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.