Transcend Capital Advisors LLC Has $1.34 Million Holdings in CVS Health Co. (NYSE:CVS)

Transcend Capital Advisors LLC raised its holdings in CVS Health Co. (NYSE:CVS) by 27.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,639 shares of the pharmacy operator’s stock after acquiring an additional 4,826 shares during the period. Transcend Capital Advisors LLC’s holdings in CVS Health were worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. USA Financial Formulas increased its position in CVS Health by 573.2% during 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 period. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health during the 4th quarter valued at approximately $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health during the 4th quarter valued at approximately $34,000. Steph & Co. increased its position in CVS Health by 192.0% during the 1st 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 period. Finally, Kapitalo Investimentos Ltda acquired a new stake in CVS Health during the 4th quarter valued at approximately $36,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Robert W. Baird assumed coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target on the stock. TD Cowen cut CVS Health from a “buy” rating to a “hold” rating and cut their price target for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Barclays cut their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Mizuho cut their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $74.55.

CVS Health Stock Down 2.6 %

NYSE CVS traded down $1.55 on Monday, reaching $57.77. The company had a trading volume of 3,581,385 shares, compared to its average volume of 11,504,123. The stock has a market capitalization of $72.52 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.57 and a beta of 0.52. The company’s fifty day moving average is $59.27 and its 200 day moving average is $66.72. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is currently 46.75%.

CVS Health Company 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.