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

Legacy Capital Group California Inc. boosted its holdings in CVS Health Co. (NYSE:CVS) by 49.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 15,708 shares of the pharmacy operator’s stock after buying an additional 5,165 shares during the period. Legacy Capital Group California Inc.’s holdings in CVS Health were worth $928,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. USA Financial Formulas increased 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 purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in CVS Health in the fourth quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health in the 4th quarter worth approximately $34,000. Steph & Co. increased its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.10 during trading hours on Tuesday, hitting $58.90. 4,169,507 shares of the company’s stock were exchanged, compared to its average volume of 11,361,929. The stock has a market capitalization of $73.94 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.57 and a beta of 0.52. The company’s 50-day moving average price is $58.99 and its 200-day moving average price is $65.34. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

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

CVS Health Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CVS. Truist Financial reissued a “buy” rating and set a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Evercore ISI lowered their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Robert W. Baird started coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target on the stock. Argus reduced their price objective on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $60.00 in a research report on Thursday, May 2nd. Eleven 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.24.

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.