White Knight Strategic Wealth Advisors LLC Increases Stake in CVS Health Co. (NYSE:CVS)

White Knight Strategic Wealth Advisors LLC raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 59.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,702 shares of the pharmacy operator’s stock after purchasing an additional 2,132 shares during the quarter. White Knight Strategic Wealth Advisors LLC’s holdings in CVS Health were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pzena Investment Management LLC boosted its holdings in CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after buying an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after acquiring an additional 304,386 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CVS Health by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator’s stock worth $443,301,000 after acquiring an additional 107,977 shares during the period. AQR Capital Management LLC grew its position in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after purchasing an additional 1,327,855 shares in the last quarter. Finally, National Pension Service raised its stake in shares of CVS Health by 17.4% during the 3rd quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock valued at $178,793,000 after purchasing an additional 421,416 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $59.82 on Friday. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business has a 50 day moving average of $59.36 and a 200 day moving average of $58.74. The company has a market capitalization of $75.28 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.02 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. On average, sell-side analysts predict that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent analyst reports. Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Truist Financial reaffirmed a “buy” rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Barclays decreased their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

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.