Hazlett Burt & Watson Inc. Grows Stock Position in CVS Health Co. (NYSE:CVS)

Hazlett Burt & Watson Inc. lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,575 shares of the pharmacy operator’s stock after buying an additional 229 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in CVS Health were worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. Garland Capital Management Inc. raised its position in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its position in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the last quarter. Plimoth Trust Co. LLC boosted its holdings in CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its position in CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $54.65 on Tuesday. The stock has a market cap of $68.75 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average of $59.58 and a 200-day moving average of $59.39. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last released its 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 company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. On average, analysts expect that CVS Health Co. will post 6.41 EPS for the current fiscal 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 given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is presently 47.33%.

Analysts Set New Price Targets

CVS has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Barclays dropped their target price on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.11.

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.