Highline Wealth Partners LLC Purchases New Shares in CVS Health Co. (NYSE:CVS)

by · The Cerbat Gem

Highline Wealth Partners LLC acquired a new position in CVS Health Co. (NYSE:CVS – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,589 shares of the pharmacy operator’s stock, valued at approximately $414,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new stake in shares of CVS Health during the 1st quarter worth approximately $203,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in CVS Health by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,734,320 shares of the pharmacy operator’s stock worth $297,849,000 after buying an additional 18,790 shares during the last quarter. Norden Group LLC raised its stake in shares of CVS Health by 2,240.6% in the first quarter. Norden Group LLC now owns 144,417 shares of the pharmacy operator’s stock valued at $11,519,000 after buying an additional 138,247 shares during the period. Kovack Advisors Inc. lifted its position in shares of CVS Health by 6.7% during the 1st quarter. Kovack Advisors Inc. now owns 26,961 shares of the pharmacy operator’s stock valued at $2,150,000 after buying an additional 1,683 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of CVS Health by 7.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 33,441 shares of the pharmacy operator’s stock worth $2,667,000 after acquiring an additional 2,317 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent research reports. Barclays dropped their price objective on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Truist Financial lifted their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.58.

Read Our Latest Stock Analysis on CVS Health

CVS Health Stock Up 0.5 %

CVS Health stock opened at $56.53 on Wednesday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a fifty day moving average of $59.73 and a 200 day moving average of $59.67. 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 market cap of $70.97 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 – Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 EPS. As a group, sell-side analysts predict 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. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. CVS Health’s payout ratio is presently 46.75%.

CVS Health Profile

(Free Report)

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.

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