CVS Health Co. (NYSE:CVS) Shares Purchased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. grew its stake in shares of CVS Health Co. (NYSE:CVS) by 49.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,708 shares of the pharmacy operator’s stock after acquiring an additional 5,165 shares during the quarter. Legacy Capital Group California Inc.’s holdings in CVS Health were worth $928,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. USA Financial Formulas raised its position in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at about $32,000. First Community Trust NA grew its holdings in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Creekmur Asset Management LLC purchased a new position in CVS Health in the fourth quarter valued at approximately $34,000. Finally, Steph & Co. lifted its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVS has been the subject of a number of research reports. Truist Financial reaffirmed a “buy” rating and set a $66.00 price target (down from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Mizuho dropped their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and decreased their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Finally, SVB Leerink reiterated a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.24.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.10 during mid-day trading on Tuesday, reaching $58.90. 4,169,507 shares of the company were exchanged, compared to its average volume of 11,361,929. The stock has a market capitalization of $73.94 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.57 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company’s 50-day simple moving average is $58.99 and its 200-day simple moving average is $65.34.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 earnings per share. As a group, research analysts predict that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.52%. CVS Health’s dividend payout ratio is currently 46.75%.

CVS Health Company 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.