MONECO Advisors LLC Acquires 670 Shares of CVS Health Co. (NYSE:CVS)

MONECO Advisors LLC grew its stake in CVS Health Co. (NYSE:CVS) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,528 shares of the pharmacy operator’s stock after acquiring an additional 670 shares during the quarter. MONECO Advisors LLC’s holdings in CVS Health were worth $1,228,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVS. Diversify Advisory Services LLC boosted its stake in CVS Health by 6.8% during the 3rd quarter. Diversify Advisory Services LLC now owns 28,301 shares of the pharmacy operator’s stock valued at $1,780,000 after purchasing an additional 1,800 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of CVS Health by 0.7% during the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares in the last quarter. Gibraltar Capital Management Inc. increased its holdings in CVS Health by 2.1% in the 3rd quarter. Gibraltar Capital Management Inc. now owns 139,592 shares of the pharmacy operator’s stock worth $8,778,000 after buying an additional 2,845 shares in the last quarter. Pallas Capital Advisors LLC raised its position in CVS Health by 82.6% in the 3rd quarter. Pallas Capital Advisors LLC now owns 13,616 shares of the pharmacy operator’s stock worth $856,000 after buying an additional 6,158 shares during the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of CVS Health by 40.7% during the third quarter. Concord Wealth Partners now owns 2,167 shares of the pharmacy operator’s stock valued at $136,000 after purchasing an additional 627 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays reduced their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price target 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, Truist Financial increased their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Trading Down 1.9 %

Shares of CVS stock opened at $56.29 on Wednesday. The firm has a market capitalization of $70.66 billion, a PE ratio of 9.89, a PEG ratio of 0.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock has a fifty day simple moving average of $59.73 and a two-hundred day simple moving average of $59.67. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the previous year, the firm earned $2.21 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

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.