SSI Investment Management Inc. increased its position in CVS Health Corporation (NYSE:CVS) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 3,071 shares of the pharmacy operator’s stock after buying an additional 56 shares during the period. SSI Investment Management Inc.’s holdings in CVS Health Corporation were worth $295,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Searle & CO. raised its position in CVS Health Corporation by 1.7% in the first quarter. Searle & CO. now owns 27,398 shares of the pharmacy operator’s stock worth $2,872,000 after buying an additional 470 shares during the last quarter. Webster Bank N. A. raised its position in CVS Health Corporation by 2.9% in the first quarter. Webster Bank N. A. now owns 77,460 shares of the pharmacy operator’s stock worth $8,035,000 after buying an additional 2,203 shares during the last quarter. Banced Corp raised its position in CVS Health Corporation by 6.2% in the first quarter. Banced Corp now owns 7,233 shares of the pharmacy operator’s stock worth $750,000 after buying an additional 420 shares during the last quarter. Franklin Street Advisors Inc. NC raised its position in CVS Health Corporation by 7.7% in the first quarter. Franklin Street Advisors Inc. NC now owns 61,261 shares of the pharmacy operator’s stock worth $6,355,000 after buying an additional 4,383 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in CVS Health Corporation by 7.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 267,456 shares of the pharmacy operator’s stock worth $27,743,000 after buying an additional 19,260 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

CVS Health Corporation (NYSE:CVS) traded up 0.12% during trading on Friday, reaching $90.68. The company had a trading volume of 1,855,398 shares. CVS Health Corporation has a 12-month low of $86.50 and a 12-month high of $106.67. The stock has a 50 day moving average of $94.22 and a 200-day moving average of $97.87. The stock has a market capitalization of $96.68 billion, a P/E ratio of 20.86 and a beta of 0.84.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.02. The business earned $43.70 billion during the quarter, compared to the consensus estimate of $44.28 billion. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. On average, analysts forecast that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.88%. CVS Health Corporation’s payout ratio is currently 39.08%.

Several research firms recently issued reports on CVS. Zacks Investment Research raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Deutsche Bank AG lifted their price objective on CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, August 3rd. FBR & Co reissued an “outperform” rating and set a $120.00 price objective on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Leerink Swann reissued a “buy” rating on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Finally, Mizuho lifted their price objective on CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. CVS Health Corporation presently has an average rating of “Buy” and a consensus target price of $113.02.

About CVS Health Corporation

CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.

5 Day Chart for NYSE:CVS

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS).

Receive News & Ratings for CVS Health Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health Corporation and related companies with MarketBeat.com's FREE daily email newsletter.