Plan Group Financial LLC Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Plan Group Financial LLC raised its stake in shares of CVS Health Co. (NYSE:CVS) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,942 shares of the pharmacy operator’s stock after acquiring an additional 1,822 shares during the period. Plan Group Financial LLC’s holdings in CVS Health were worth $625,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter worth approximately $31,000. Crewe Advisors LLC purchased a new position in CVS Health during the 1st quarter worth $40,000. Retirement Group LLC boosted its holdings in shares of CVS Health by 54.3% in the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock valued at $41,000 after acquiring an additional 182 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the third quarter worth about $33,000. Finally, First Community Trust NA raised its holdings in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVS shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Barclays decreased their target price on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.89.

CVS Health Price Performance

Shares of NYSE:CVS opened at $56.72 on Wednesday. The company has a market cap of $71.20 billion, a P/E ratio of 9.99, a P/E/G ratio of 0.93 and a beta of 0.54. The business has a fifty day simple moving average of $59.87 and a 200-day simple moving average of $60.19. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period in the prior year, the firm posted $2.21 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.69%. CVS Health’s payout ratio is 46.75%.

About CVS Health

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.