Dana Investment Advisors Inc. Boosts Position in CVS Health Co. (NYSE:CVS)

Dana Investment Advisors Inc. lifted its holdings in CVS Health Co. (NYSE:CVS) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,114 shares of the pharmacy operator’s stock after acquiring an additional 1,385 shares during the period. Dana Investment Advisors Inc.’s holdings in CVS Health were worth $8,157,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at about $32,000. First Community Trust NA boosted its holdings in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Creekmur Asset Management LLC acquired a new stake in CVS Health in the fourth quarter valued at approximately $34,000. Steph & Co. raised its stake in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $62.84 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average of $58.29 and a 200-day moving average of $61.77. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The firm has a market cap of $78.89 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.23%. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Barclays cut their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company raised their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.10.

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.