CVS Health Co. (NYSE:CVS) Stake Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of CVS Health Co. (NYSE:CVS) by 93.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 424,038 shares of the pharmacy operator’s stock after acquiring an additional 204,718 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in CVS Health were worth $25,044,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in CVS Health by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after purchasing an additional 533,659 shares during the last quarter. Capital World Investors boosted its holdings in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the period. Capital International Investors grew its position 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 valued at $3,024,334,000 after buying an additional 4,226,225 shares during the last quarter. Norges Bank bought a new position in CVS Health in the fourth quarter worth about $1,092,040,000. Finally, Capital Research Global Investors boosted its stake in CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after acquiring an additional 184,297 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVS. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday. Baird R W upgraded shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Evercore ISI dropped their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company boosted their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Up 0.8 %

CVS stock opened at $57.98 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The company has a 50-day moving average of $58.28 and a two-hundred day moving average of $63.17. The stock has a market capitalization of $72.94 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. CVS Health Co. has a 52-week low of $52.77 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

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 was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. CVS Health’s dividend payout ratio is currently 46.75%.

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.