Capital Asset Advisory Services LLC Takes Position in CVS Health Co. (NYSE:CVS)

Capital Asset Advisory Services LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,150 shares of the pharmacy operator’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in CVS Health during the fourth quarter valued at about $839,574,000. Capital World Investors increased its position in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares during the last quarter. Davis Selected Advisers raised its position in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after buying an additional 11,018,438 shares in the last quarter. Dodge & Cox lifted its stake in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after buying an additional 6,475,271 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of NYSE CVS opened at $63.56 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company’s fifty day moving average price is $65.39 and its 200 day moving average price is $59.79. The company has a market capitalization of $80.40 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

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

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 63.48%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVS shares. Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Wells Fargo & Company restated an “overweight” rating and issued a $84.00 price objective (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Mizuho raised their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.