Westbourne Investment Advisors Inc. boosted its position in CVS Health Corp (NYSE:CVS) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,238 shares of the pharmacy operator’s stock after acquiring an additional 3,675 shares during the period. CVS Health accounts for 2.7% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 7th biggest position. Westbourne Investment Advisors Inc.’s holdings in CVS Health were worth $3,104,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Camarda Financial Advisors LLC bought a new stake in shares of CVS Health during the 2nd quarter valued at about $102,000. Quantbot Technologies LP bought a new stake in shares of CVS Health during the 1st quarter valued at about $103,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of CVS Health during the 2nd quarter valued at about $103,000. Wagner Wealth Management LLC bought a new stake in shares of CVS Health during the 4th quarter valued at about $114,000. Finally, Legacy Advisors LLC boosted its stake in shares of CVS Health by 7,100.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after purchasing an additional 1,775 shares in the last quarter. 82.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CVS opened at $74.24 on Tuesday. CVS Health Corp has a 1 year low of $60.14 and a 1 year high of $84.00. The stock has a market cap of $75.01 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.99 and a beta of 0.96. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 earnings per share. research analysts forecast that CVS Health Corp will post 7.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Wednesday, July 25th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 24th. This represents a $2.00 annualized dividend and a yield of 2.69%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
A number of equities research analysts have recently weighed in on CVS shares. Mizuho reaffirmed a “buy” rating on shares of CVS Health in a research note on Saturday, June 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. ValuEngine cut shares of CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 8th. Morgan Stanley lowered their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 3rd. Finally, Citigroup reissued a “buy” rating and set a $81.00 price target on shares of CVS Health in a research report on Monday, July 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average target price of $86.04.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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