CVS Health Co. (NYSE:CVS) Shares Purchased by Verity Asset Management Inc.

Verity Asset Management Inc. increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 7.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,713 shares of the pharmacy operator’s stock after acquiring an additional 316 shares during the period. Verity Asset Management Inc.’s holdings in CVS Health were worth $296,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVS. Pzena Investment Management LLC boosted its holdings in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Capital International Investors boosted its holdings in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors boosted its holdings in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

NYSE CVS opened at $55.56 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market capitalization of $69.89 billion, a PE ratio of 14.10, a P/E/G ratio of 0.94 and a beta of 0.55. The company has a fifty day moving average of $59.56 and a two-hundred day moving average of $59.19.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts expect that CVS Health Co. will post 6.18 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.79%. CVS Health’s payout ratio is 67.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVS shares. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Truist Financial lifted their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.