Quattro Financial Advisors LLC Makes New $347,000 Investment in CVS Health Corp (NYSE:CVS)

Quattro Financial Advisors LLC bought a new position in shares of CVS Health Corp (NYSE:CVS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,140 shares of the pharmacy operator’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC lifted its position in CVS Health by 1,871.4% in the 1st quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 524 shares in the last quarter. Centaurus Financial Inc. lifted its position in CVS Health by 570.8% in the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 1,387 shares in the last quarter. Manchester Financial Inc. bought a new stake in CVS Health in the 2nd quarter valued at $31,000. C J Advisory Inc bought a new stake in CVS Health in the 1st quarter valued at $33,000. Finally, Somerset Trust Co lifted its position in CVS Health by 152.7% in the 1st quarter. Somerset Trust Co now owns 758 shares of the pharmacy operator’s stock valued at $41,000 after acquiring an additional 458 shares in the last quarter. 77.33% of the stock is owned by hedge funds and other institutional investors.

NYSE:CVS traded up $3.29 on Wednesday, hitting $57.38. 968,845 shares of the company’s stock were exchanged, compared to its average volume of 7,638,115. The business has a 50-day simple moving average of $55.41. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15. The stock has a market capitalization of $72.37 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.25 and a beta of 0.90.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping the consensus estimate of $1.70 by $0.19. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The firm had revenue of $63.43 billion for the quarter, compared to analysts’ expectations of $62.66 billion. During the same period in the previous year, the firm posted $1.69 EPS. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. Research analysts anticipate that CVS Health Corp will post 6.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.49%. CVS Health’s payout ratio is 28.25%.

Several equities research analysts recently commented on CVS shares. Raymond James cut their price objective on shares of CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 18th. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. SunTrust Banks cut their price objective on shares of CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. Oppenheimer cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Finally, Guggenheim started coverage on shares of CVS Health in a research report on Thursday, April 18th. They issued a “buy” rating and a $75.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.48.

About CVS Health

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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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