CVS Health Co. (NYSE:CVS) Stock Position Raised by Laraway Financial Advisors Inc

Laraway Financial Advisors Inc increased its position in CVS Health Co. (NYSE:CVS) by 24.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,335 shares of the pharmacy operator’s stock after buying an additional 660 shares during the period. Laraway Financial Advisors Inc’s holdings in CVS Health were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. State Street Corp raised its holdings in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. Pzena Investment Management LLC raised its holdings in CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CVS Health by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator’s stock valued at $443,301,000 after acquiring an additional 107,977 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVS shares. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI raised 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. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial reaffirmed a “buy” rating and issued a $67.00 price target (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Stock Down 2.8 %

Shares of CVS opened at $55.29 on Friday. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The stock has a market cap of $69.58 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 0.99 and a beta of 0.54. The company has a 50-day moving average price of $59.32 and a two-hundred day moving average price of $58.78. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is currently 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.