M&G Plc Increases Stock Holdings in CVS Health Co. (NYSE:CVS)

M&G Plc lifted its position in CVS Health Co. (NYSE:CVS) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 909,675 shares of the pharmacy operator’s stock after purchasing an additional 18,955 shares during the quarter. M&G Plc owned about 0.07% of CVS Health worth $57,310,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVS. Clarity Financial LLC lifted its position in CVS Health by 17.1% in the third quarter. Clarity Financial LLC now owns 9,738 shares of the pharmacy operator’s stock valued at $612,000 after buying an additional 1,421 shares during the last quarter. United Advisor Group LLC acquired a new position in CVS Health in the third quarter valued at about $206,000. Moloney Securities Asset Management LLC lifted its position in CVS Health by 3.9% in the third quarter. Moloney Securities Asset Management LLC now owns 26,597 shares of the pharmacy operator’s stock valued at $1,672,000 after buying an additional 995 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in CVS Health by 9.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 2,575 shares of the pharmacy operator’s stock valued at $163,000 after buying an additional 229 shares during the last quarter. Finally, PDS Planning Inc acquired a new position in CVS Health in the third quarter valued at about $243,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $61.61 on Thursday. The stock’s 50-day moving average is $59.59 and its two-hundred day moving average is $59.23. The firm has a market cap of $77.50 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.82 and a beta of 0.55. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the company posted $2.21 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts predict that CVS Health Co. will post 6.27 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 47.33%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada reissued 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 increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Truist Financial increased their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $73.11.

About CVS Health

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.