AM Squared Ltd Invests $88,000 in CVS Health Co. (NYSE:CVS)

AM Squared Ltd bought a new position in shares of CVS Health Co. (NYSE:CVS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,400 shares of the pharmacy operator’s stock, valued at approximately $88,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Garland Capital Management Inc. lifted its holdings in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the last quarter. Plimoth Trust Co. LLC lifted its holdings in CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after acquiring an additional 183 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS stock opened at $53.19 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $59.23 and a 200 day moving average price of $58.66. The company has a market cap of $66.93 billion, a P/E ratio of 13.50, a PEG ratio of 0.92 and a beta of 0.55. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Sell-side analysts predict that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 5.00%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Ratings Changes

A number of analysts have issued reports on CVS shares. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Truist Financial boosted their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Mizuho cut 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, UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $72.44.

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.