Brown Financial Advisors Invests $684,000 in CVS Health Co. (NYSE:CVS)

Brown Financial Advisors acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 11,573 shares of the pharmacy operator’s stock, valued at approximately $684,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $32,000. First Community Trust NA increased its position in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the period. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the fourth quarter valued at $34,000. Steph & Co. lifted its holdings in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Finally, ORG Partners LLC increased its holdings in CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 2.1 %

Shares of NYSE:CVS opened at $61.54 on Wednesday. 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 52-week low of $52.77 and a 52-week high of $83.25. The business’s 50 day simple moving average is $58.37 and its two-hundred day simple moving average is $61.66. The firm has a market cap of $77.26 billion, a P/E ratio of 10.82, a PEG ratio of 0.81 and a beta of 0.53.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period last year, the business earned $2.21 EPS. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts forecast that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.32%. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Ratings Changes

Several brokerages have commented on CVS. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Barclays reduced their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.