AE Wealth Management LLC Raises Stock Position in CVS Health Corporation $CVS

AE Wealth Management LLC boosted its position in CVS Health Corporation (NYSE:CVS) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 257,204 shares of the pharmacy operator’s stock after purchasing an additional 14,983 shares during the quarter. AE Wealth Management LLC’s holdings in CVS Health were worth $19,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVS. Vanguard Group Inc. raised its position in shares of CVS Health by 1.7% in the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after buying an additional 2,063,737 shares in the last quarter. State Street Corp increased its stake in CVS Health by 1.4% in the 2nd quarter. State Street Corp now owns 58,788,585 shares of the pharmacy operator’s stock worth $4,055,237,000 after acquiring an additional 800,414 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CVS Health by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after acquiring an additional 675,824 shares in the last quarter. Invesco Ltd. boosted its position in shares of CVS Health by 15.3% during the 2nd quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock valued at $1,623,270,000 after acquiring an additional 3,118,626 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of CVS Health during the second quarter worth about $1,358,698,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.4%

Shares of CVS Health stock opened at $74.33 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.83. CVS Health Corporation has a 52-week low of $53.36 and a 52-week high of $85.15. The company’s 50 day moving average price is $78.97 and its 200-day moving average price is $75.01. The stock has a market capitalization of $94.35 billion, a price-to-earnings ratio of 195.61, a P/E/G ratio of 0.68 and a beta of 0.48.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The business had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the prior year, the company posted $1.09 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CVS shares. UBS Group reaffirmed an “outperform” rating on shares of CVS Health in a research note on Wednesday, December 10th. Raymond James Financial raised their price objective on shares of CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Barclays upped their target price on shares of CVS Health from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. raised their price target on CVS Health from $93.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Finally, Jefferies Financial Group upped their price objective on CVS Health from $92.00 to $98.00 in a report on Thursday, October 30th. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.82.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.