Grandview Asset Management LLC Takes Position in CVS Health Co. (NYSE:CVS)

Grandview Asset Management LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, HoldingsChannel reports. The fund purchased 6,935 shares of the pharmacy operator’s stock, valued at approximately $311,000.

Other institutional investors have also bought and sold shares of the company. Assetmark Inc. lifted its holdings in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. increased its position in shares of CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Principal Financial Group Inc. raised its holdings in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. lifted its position in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after buying an additional 10,453 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Trading Up 7.4 %

NYSE:CVS opened at $51.54 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a 50-day simple moving average of $51.76 and a 200-day simple moving average of $56.49. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The firm has a market cap of $64.86 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share. Equities analysts anticipate that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.16%. CVS Health’s dividend payout ratio is presently 67.51%.

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.