Trajan Wealth LLC Raises Stake in CVS Health Co. (NYSE:CVS)

Trajan Wealth LLC grew its holdings in CVS Health Co. (NYSE:CVS) by 15.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 59,574 shares of the pharmacy operator’s stock after buying an additional 7,837 shares during the period. Trajan Wealth LLC’s holdings in CVS Health were worth $3,746,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Crewe Advisors LLC purchased a new position in CVS Health in the 1st quarter valued at $40,000. Retirement Group LLC increased its stake in CVS Health by 54.3% in the 1st quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock valued at $41,000 after buying an additional 182 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the 3rd quarter worth $33,000. Finally, First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVS shares. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Wells Fargo & Company upped their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Truist Financial boosted their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Price Performance

CVS Health stock opened at $56.29 on Wednesday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The firm has a 50 day moving average price of $59.73 and a 200 day moving average price of $59.67. The company has a market cap of $70.66 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. Sell-side analysts predict that CVS Health Co. will post 6.41 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

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.