CVS Health Co. (NYSE:CVS) Shares Purchased by ProVise Management Group LLC

ProVise Management Group LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,058 shares of the pharmacy operator’s stock after buying an additional 8,875 shares during the quarter. ProVise Management Group LLC’s holdings in CVS Health were worth $9,571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wedmont Private Capital grew its holdings in CVS Health by 0.8% in the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock valued at $1,410,000 after purchasing an additional 146 shares during the last quarter. Moody National Bank Trust Division grew its holdings in CVS Health by 0.7% in the first quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock valued at $1,776,000 after purchasing an additional 150 shares during the last quarter. Landmark Financial Advisors LLC grew its holdings in CVS Health by 3.8% in the fourth quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock valued at $329,000 after purchasing an additional 153 shares during the last quarter. Garland Capital Management Inc. grew its holdings in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares during the last quarter. Finally, Sepio Capital LP grew its holdings in CVS Health by 1.7% in the fourth quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock valued at $782,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $58.42 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The firm has a market cap of $73.34 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The stock has a 50-day simple moving average of $58.33 and a 200-day simple moving average of $62.74.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business 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 earned $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.55%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Barclays lowered their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Monday. Robert W. Baird began coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Evercore ISI reduced their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

About CVS Health

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.