DT Investment Partners LLC Acquires 202 Shares of CVS Health Co. (NYSE:CVS)

DT Investment Partners LLC grew its stake in CVS Health Co. (NYSE:CVS) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,777 shares of the pharmacy operator’s stock after acquiring an additional 202 shares during the period. DT Investment Partners LLC’s holdings in CVS Health were worth $175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Crewe Advisors LLC bought a new stake in CVS Health during the first quarter worth $40,000. Retirement Group LLC lifted its stake in 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 during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth about $33,000. Finally, First Community Trust NA raised its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $56.11 on Friday. The company has a market cap of $70.44 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.93 and a beta of 0.54. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. 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 moving average price of $59.88 and a 200-day moving average price of $60.17.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.74%. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Wells Fargo & Company upped their price objective 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. Truist Financial raised their target price 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. Finally, Barclays decreased their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.58.

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.