Summit Trail Advisors LLC Raises Stake in CVS Health Co. (NYSE:CVS)

Summit Trail Advisors LLC raised its stake in CVS Health Co. (NYSE:CVS) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,282 shares of the pharmacy operator’s stock after purchasing an additional 3,564 shares during the quarter. Summit Trail Advisors LLC’s holdings in CVS Health were worth $843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gryphon Financial Partners LLC increased its holdings in CVS Health by 48.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after buying an additional 2,653 shares during the last quarter. TCW Group Inc. acquired a new stake in shares of CVS Health in the 4th quarter worth about $1,605,000. Congress Wealth Management LLC DE raised its holdings in shares of CVS Health by 126.0% during the fourth quarter. Congress Wealth Management LLC DE now owns 6,827 shares of the pharmacy operator’s stock valued at $539,000 after buying an additional 3,806 shares during the last quarter. Johnson Financial Group Inc. raised its stake in CVS Health by 96.6% during the 4th quarter. Johnson Financial Group Inc. now owns 6,994 shares of the pharmacy operator’s stock valued at $552,000 after acquiring an additional 3,437 shares in the last quarter. Finally, Glassman Wealth Services lifted its holdings in CVS Health by 9.1% in the fourth quarter. Glassman Wealth Services now owns 4,232 shares of the pharmacy operator’s stock worth $334,000 after purchasing an additional 352 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS opened at $57.51 on Monday. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The business’s 50 day moving average price is $58.31 and its two-hundred day moving average price is $62.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The firm has a market cap of $72.20 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its quarterly 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. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 earnings per share. On average, equities analysts anticipate that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

Several brokerages recently weighed in on CVS. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Barclays decreased their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Monday, September 16th. Robert W. Baird started coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target on the stock. Finally, Baird R W upgraded shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has a consensus 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.