Portside Wealth Group LLC Has $1.78 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Portside Wealth Group LLC raised its position in CVS Health Co. (NYSE:CVS) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,266 shares of the pharmacy operator’s stock after acquiring an additional 2,309 shares during the period. Portside Wealth Group LLC’s holdings in CVS Health were worth $1,777,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital World Investors increased its stake in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors boosted its holdings in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital Research Global Investors grew its stake in shares of CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the period. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after buying an additional 389,166 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $57.11 on Friday. The company has a market cap of $71.84 billion, a PE ratio of 14.49, a PEG ratio of 0.82 and a beta of 0.55. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company’s 50-day moving average is $59.59 and its two-hundred day moving average is $59.23.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the business posted $2.21 earnings per share. CVS Health’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that CVS Health Co. will post 6.27 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.66%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

Several research firms have issued reports on CVS. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

About CVS Health

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.