Arrow Financial Corp Has $87,000 Stock Holdings in CVS Health Co. (NYSE:CVS)

Arrow Financial Corp raised its position in CVS Health Co. (NYSE:CVS) by 186.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,465 shares of the pharmacy operator’s stock after acquiring an additional 954 shares during the period. Arrow Financial Corp’s holdings in CVS Health were worth $87,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVS. Riverpoint Wealth Management Holdings LLC bought a new position in CVS Health in the fourth quarter worth $218,000. Canoe Financial LP raised its stake in shares of CVS Health by 95.1% in the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after buying an additional 859,134 shares in the last quarter. Steph & Co. lifted its holdings in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the period. Forum Financial Management LP boosted its position in shares of CVS Health by 19.4% during the 4th quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 2,901 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its stake in CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after acquiring an additional 16,840 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS stock opened at $57.24 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm has a market cap of $71.86 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.57 and a beta of 0.52. The stock has a 50-day moving average price of $58.59 and a 200 day moving average price of $64.66.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts expect that CVS Health Co. will post 7 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a $0.665 dividend. 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 4.65%. CVS Health’s dividend payout ratio is presently 46.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CVS shares. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective on the stock. Evercore ISI decreased their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company increased their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.24.

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.