Alexander Randolph Advisory Inc. Has $3.75 Million Position in CVS Health Co. (NYSE:CVS)

Alexander Randolph Advisory Inc. boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,602 shares of the pharmacy operator’s stock after acquiring an additional 4,035 shares during the quarter. CVS Health makes up approximately 3.3% of Alexander Randolph Advisory Inc.’s holdings, making the stock its 9th biggest holding. Alexander Randolph Advisory Inc.’s holdings in CVS Health were worth $3,748,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Assetmark Inc. increased its holdings in shares of CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after purchasing an additional 36,132 shares in the last quarter. Cullinan Associates Inc. boosted its position in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health in the 2nd quarter valued at $57,584,000. CX Institutional raised its position in shares of CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after acquiring an additional 65,259 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after acquiring an additional 145,158 shares during the period. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVS. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.00.

CVS Health Stock Up 1.0 %

Shares of CVS traded up $0.53 during midday trading on Wednesday, hitting $54.56. The stock had a trading volume of 1,574,958 shares, compared to its average volume of 11,299,731. The firm has a market cap of $68.66 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.97 and a beta of 0.55. The company has a 50 day simple moving average of $59.47 and a two-hundred day simple moving average of $58.88. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. On average, analysts anticipate that CVS Health Co. will post 5.44 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.88%. CVS Health’s payout ratio is currently 67.51%.

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.