AGF Management Ltd. Has $19.79 Million Holdings in CVS Health Co. (NYSE:CVS)

AGF Management Ltd. lowered its stake in CVS Health Co. (NYSE:CVS) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 335,143 shares of the pharmacy operator’s stock after selling 1,127 shares during the period. AGF Management Ltd.’s holdings in CVS Health were worth $19,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. Vanguard Group Inc. lifted its position in shares of CVS Health by 0.5% during the 4th 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 lifted its position in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Capital International Investors lifted 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 worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Norges Bank acquired a new position in shares of CVS Health during the 4th quarter worth about $1,092,040,000. Finally, Capital Research Global Investors lifted its position in shares of CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after purchasing an additional 184,297 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 1.5 %

NYSE CVS opened at $56.11 on Thursday. The stock’s 50 day simple moving average is $58.24 and its 200 day simple moving average is $63.34. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. 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 firm has a market cap of $70.44 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54.

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 return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.74%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is 46.75%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVS. Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Barclays cut their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.48.

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.