Keynote Financial Services LLC Makes New $1.90 Million Investment in CVS Health Co. (NYSE:CVS)

Keynote Financial Services LLC acquired a new position in CVS Health Co. (NYSE:CVS) in the 1st quarter, Holdings Channel reports. The firm acquired 23,863 shares of the pharmacy operator’s stock, valued at approximately $1,903,000. CVS Health comprises 1.6% of Keynote Financial Services LLC’s investment portfolio, making the stock its 11th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. USA Financial Formulas raised its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $32,000. Creekmur Asset Management LLC bought a new position in CVS Health during the 4th quarter valued at $34,000. Steph & Co. lifted its holdings 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 last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in CVS Health during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 1.2 %

Shares of CVS Health stock traded down $0.71 on Friday, reaching $59.32. 8,695,521 shares of the company were exchanged, compared to its average volume of 9,014,376. The firm has a market capitalization of $74.47 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The stock has a fifty day moving average price of $59.27 and a 200-day moving average price of $66.79. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that CVS Health Co. will post 7 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.48%. CVS Health’s payout ratio is currently 46.75%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVS. Wells Fargo & Company lowered their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. SVB Leerink reissued a “market perform” rating and set a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. The Goldman Sachs Group lowered their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Baird R W upgraded CVS Health to a “hold” rating in a research report on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

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.