Geller Advisors LLC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Geller Advisors LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 26.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,381 shares of the pharmacy operator’s stock after selling 1,554 shares during the quarter. Geller Advisors LLC’s holdings in CVS Health were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. lifted its stake in CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares during the period. Cullinan Associates Inc. raised its holdings in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Sompo Asset Management Co. Ltd. lifted its position in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in CVS Health during the second quarter valued at approximately $57,584,000. Finally, Oppenheimer Asset Management Inc. raised its stake in CVS Health by 5.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after buying an additional 24,285 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Piper Sandler lowered their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.50.

CVS Health Stock Performance

Shares of NYSE CVS opened at $56.06 on Tuesday. The company has a market capitalization of $70.55 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.95 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company’s fifty day moving average price is $59.21 and its 200 day moving average price is $58.78. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the company posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts predict that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.