White Knight Strategic Wealth Advisors LLC Increases Stock Position in CVS Health Co. (NYSE:CVS)

White Knight Strategic Wealth Advisors LLC raised its position in CVS Health Co. (NYSE:CVS) by 59.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,702 shares of the pharmacy operator’s stock after acquiring an additional 2,132 shares during the quarter. White Knight Strategic Wealth Advisors LLC’s holdings in CVS Health were worth $359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health during the third quarter valued at approximately $32,000. First Community Trust NA lifted its position in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the third quarter worth about $33,000. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVS. Evercore ISI boosted their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Truist Financial restated a “buy” rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Finally, Piper Sandler dropped their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Stock Down 0.2 %

CVS Health stock opened at $59.82 on Friday. The stock has a market cap of $75.28 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.02 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a fifty day moving average of $59.36 and a 200 day moving average of $58.74. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.45%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

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.