CVS Health Co. (NYSE:CVS) Shares Bought by Trajan Wealth LLC

Trajan Wealth LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 15.1% in the third quarter, Holdings Channel reports. The institutional investor owned 59,574 shares of the pharmacy operator’s stock after buying an additional 7,837 shares during the quarter. Trajan Wealth LLC’s holdings in CVS Health were worth $3,746,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CVS. Garland Capital Management Inc. increased its position in shares of CVS Health by 0.3% during 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 period. Sound Income Strategies LLC boosted its stake in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares in the last quarter. Plimoth Trust Co. LLC increased its holdings in CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after buying an additional 174 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares in the last quarter. Finally, Retirement Group LLC lifted its holdings in shares of CVS Health by 54.3% during the 1st quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock worth $41,000 after acquiring an additional 182 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVS has been the subject of several recent research reports. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Wells Fargo & Company upped their price target 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. Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Stock Performance

CVS stock opened at $56.29 on Wednesday. The company has a 50 day moving average price of $59.73 and a 200 day moving average price of $59.67. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The stock has a market capitalization of $70.66 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Analysts forecast that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

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.