Wealth Effects LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Wealth Effects LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,090 shares of the pharmacy operator’s stock after selling 356 shares during the period. Wealth Effects LLC’s holdings in CVS Health were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Community Trust NA lifted its position in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health in the third quarter valued at $33,000. Steph & Co. grew its holdings 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 in the last quarter. ORG Partners LLC increased its stake in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in CVS Health by 71.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock traded down $2.02 during midday trading on Monday, hitting $58.32. The company’s stock had a trading volume of 5,753,201 shares, compared to its average volume of 11,201,404. The stock’s 50-day moving average price is $59.80 and its 200-day moving average price is $60.43. The company has a market capitalization of $73.21 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. Analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Analysts Set New Price Targets

CVS has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.26.

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.