CVS Health Co. (NYSE:CVS) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of CVS Health Co. (NYSE:CVS) by 74.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 501,984 shares of the pharmacy operator’s stock after buying an additional 215,024 shares during the period. Federated Hermes Inc.’s holdings in CVS Health were worth $29,647,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health during the 4th quarter valued at about $32,000. First Community Trust NA grew its holdings in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health in the fourth quarter valued at approximately $34,000. Steph & Co. raised its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the period. Finally, ORG Partners LLC grew its stake in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $57.98 on Friday. The company has a market capitalization of $72.94 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.79 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock’s fifty day moving average is $58.28 and its two-hundred day moving average is $63.08.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the firm posted $2.21 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CVS shares. Wells Fargo & Company increased their price objective on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Evercore ISI lowered their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Robert W. Baird began coverage on CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.10.

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.