Larson Financial Group LLC Increases Holdings in CVS Health Co. (NYSE:CVS)

Larson Financial Group LLC lifted its position in shares of CVS Health Co. (NYSE:CVS) by 258.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,542 shares of the pharmacy operator’s stock after buying an additional 2,555 shares during the period. Larson Financial Group LLC’s holdings in CVS Health were worth $223,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health in the 3rd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the 3rd quarter valued at approximately $33,000. Finally, First Community Trust NA lifted its stake in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.6 %

Shares of NYSE CVS opened at $59.96 on Thursday. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The company has a market cap of $75.45 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $59.30 and a 200 day moving average price of $58.72.

CVS Health (NYSE:CVS) last announced its quarterly earnings results 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 return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.44%. CVS Health’s payout ratio is currently 67.51%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CVS shares. Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

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.