Accurate Wealth Management LLC grew its position in CVS Health Co. (NYSE:CVS – Get Rating) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,657 shares of the pharmacy operator’s stock after purchasing an additional 365 shares during the period. Accurate Wealth Management LLC’s holdings in CVS Health were worth $422,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in CVS Health by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 115,934,841 shares of the pharmacy operator’s stock worth $11,056,706,000 after purchasing an additional 1,726,512 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CVS Health by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,699,284 shares of the pharmacy operator’s stock valued at $1,184,085,000 after acquiring an additional 134,457 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of CVS Health by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 10,321,160 shares of the pharmacy operator’s stock valued at $956,359,000 after acquiring an additional 220,516 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of CVS Health by 38.6% during the 2nd quarter. Nordea Investment Management AB now owns 9,680,490 shares of the pharmacy operator’s stock valued at $899,511,000 after acquiring an additional 2,697,382 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of CVS Health by 15.5% during the 3rd quarter. Boston Partners now owns 8,034,788 shares of the pharmacy operator’s stock valued at $766,750,000 after acquiring an additional 1,077,638 shares during the last quarter. 77.29% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Barclays lowered their price objective on CVS Health from $118.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, February 9th. Morgan Stanley increased their price objective on CVS Health from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, January 13th. StockNews.com started coverage on CVS Health in a report on Thursday. They issued a “buy” rating on the stock. TheStreet raised CVS Health from a “c+” rating to a “b” rating in a report on Friday, November 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of CVS Health in a report on Thursday, February 9th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.65.
CVS Health Price Performance
CVS Health (NYSE:CVS – Get Rating) last posted its earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 EPS for the quarter, topping the consensus estimate of $1.92 by $0.07. The business had revenue of $83.85 billion during the quarter, compared to the consensus estimate of $76.37 billion. CVS Health had a return on equity of 15.75% and a net margin of 1.29%. CVS Health’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.98 EPS. On average, sell-side analysts forecast that CVS Health Co. will post 8.84 EPS for the current fiscal year.
CVS Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 21st will be given a dividend of $0.605 per share. The ex-dividend date is Thursday, April 20th. This represents a $2.42 annualized dividend and a dividend yield of 3.25%. CVS Health’s dividend payout ratio (DPR) is presently 77.56%.
About CVS Health
CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.
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