Aevitas Wealth Management Inc. boosted its holdings in shares of CVS Health Corp (NYSE:CVS) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,111 shares of the pharmacy operator’s stock after buying an additional 361 shares during the period. Aevitas Wealth Management Inc.’s holdings in CVS Health were worth $591,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CVS. Ellis Investment Partners LLC raised its holdings in shares of CVS Health by 47.0% in the 3rd quarter. Ellis Investment Partners LLC now owns 541 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 173 shares in the last quarter. Hoover Financial Advisors Inc. acquired a new position in CVS Health in the 2nd quarter valued at about $32,000. Exchange Traded Concepts LLC purchased a new stake in shares of CVS Health in the 2nd quarter valued at approximately $41,000. Keebeck Wealth Management LLC acquired a new stake in shares of CVS Health during the 2nd quarter worth approximately $42,000. Finally, Campbell Wealth Management acquired a new position in CVS Health in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 75.88% of the company’s stock.
Shares of CVS traded up $0.77 during mid-day trading on Friday, hitting $60.25. The company’s stock had a trading volume of 6,810,115 shares, compared to its average volume of 8,639,321. The firm has a 50-day moving average price of $58.78 and a 200 day moving average price of $62.33. The stock has a market capitalization of $78.85 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.46 and a beta of 0.68. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.72. CVS Health Corp has a fifty-two week low of $52.04 and a fifty-two week high of $77.03.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, October 21st. CVS Health’s payout ratio is 28.25%.
Several equities analysts have recently commented on CVS shares. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Credit Suisse Group increased their target price on shares of CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Piper Sandler initiated coverage on shares of CVS Health in a research note on Thursday, September 17th. They issued an “overweight” rating and a $72.00 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of CVS Health in a research report on Thursday, July 9th. Finally, SVB Leerink boosted their target price on CVS Health from $72.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and an average price target of $82.33.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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