Waters Parkerson & CO. LLC Purchases 11,516 Shares of CVS Health Co. (NYSE:CVS)

Waters Parkerson & CO. LLC boosted its holdings in CVS Health Co. (NYSE:CVSFree Report) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,959 shares of the pharmacy operator’s stock after purchasing an additional 11,516 shares during the period. CVS Health comprises about 1.8% of Waters Parkerson & CO. LLC’s portfolio, making the stock its 21st largest holding. Waters Parkerson & CO. LLC’s holdings in CVS Health were worth $30,439,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CVS. Bryn Mawr Capital Management LLC increased its stake in shares of CVS Health by 74.0% during the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares during the last quarter. Value Partners Investments Inc. increased its stake in shares of CVS Health by 26.5% during the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC increased its stake in shares of CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after purchasing an additional 774 shares during the last quarter. Cary Street Partners Asset Management LLC increased its stake in shares of CVS Health by 5.4% during the 2nd quarter. Cary Street Partners Asset Management LLC now owns 73,072 shares of the pharmacy operator’s stock worth $5,051,000 after purchasing an additional 3,774 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth about $4,675,000. Institutional investors own 75.99% of the company’s stock.

CVS Health Stock Down 0.2 %

Shares of CVS Health stock traded down $0.19 during trading hours on Monday, reaching $76.13. The company’s stock had a trading volume of 598,501 shares, compared to its average volume of 13,540,980. CVS Health Co. has a one year low of $64.41 and a one year high of $90.57. The company has a market capitalization of $95.81 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.74 and a beta of 0.50. The stock’s fifty day simple moving average is $76.02 and its two-hundred day simple moving average is $71.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVSGet Free Report) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $1.99 earnings per share. On average, research analysts forecast that CVS Health Co. will post 8.38 earnings per share for the current year.

CVS Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Monday, January 22nd were paid a $0.665 dividend. This is an increase from CVS Health’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, January 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.49%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. TheStreet upgraded shares of CVS Health from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. TD Cowen cut their price objective on shares of CVS Health from $102.00 to $99.00 and set an “outperform” rating for the company in a report on Monday, December 11th. Morgan Stanley cut their price objective on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. HSBC assumed coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price target on shares of CVS Health in a report on Thursday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.11.

Get Our Latest Analysis on CVS

About CVS Health

(Free Report)

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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