Kingsview Wealth Management LLC Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

Kingsview Wealth Management LLC increased its position in shares of CVS Health Co. (NYSE:CVS) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,234 shares of the pharmacy operator’s stock after purchasing an additional 3,105 shares during the period. Kingsview Wealth Management LLC’s holdings in CVS Health were worth $10,641,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its holdings in CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after buying an additional 304,386 shares in the last quarter. AQR Capital Management LLC increased its holdings in CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after buying an additional 1,327,855 shares in the last quarter. National Pension Service increased its holdings in CVS Health by 17.4% in the third quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock valued at $178,793,000 after buying an additional 421,416 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in CVS Health by 2.4% in the second quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator’s stock valued at $143,890,000 after buying an additional 57,214 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial restated a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research report on Wednesday. Finally, Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Trading Up 1.6 %

CVS Health stock opened at $58.01 on Friday. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.96 and a beta of 0.55. The firm has a 50-day moving average price of $59.21 and a two-hundred day moving average price of $58.59. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

CVS Health Company 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.