CVS Health Co. (NYSE:CVS) Stock Position Reduced by Interchange Capital Partners LLC

Interchange Capital Partners LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,693 shares of the pharmacy operator’s stock after selling 959 shares during the period. Interchange Capital Partners LLC’s holdings in CVS Health were worth $861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norden Group LLC raised its holdings in shares of CVS Health by 10.7% during the 1st quarter. Norden Group LLC now owns 6,830 shares of the pharmacy operator’s stock valued at $545,000 after purchasing an additional 660 shares in the last quarter. Mission Wealth Management LP raised its holdings in CVS Health by 70.9% during the first quarter. Mission Wealth Management LP now owns 11,321 shares of the pharmacy operator’s stock valued at $903,000 after buying an additional 4,696 shares in the last quarter. Prosperity Consulting Group LLC lifted its position in shares of CVS Health by 17.3% in the first quarter. Prosperity Consulting Group LLC now owns 4,331 shares of the pharmacy operator’s stock worth $345,000 after buying an additional 638 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CVS Health by 3.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 344,490 shares of the pharmacy operator’s stock worth $26,047,000 after acquiring an additional 11,904 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings in shares of CVS Health by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 41,546 shares of the pharmacy operator’s stock valued at $3,314,000 after acquiring an additional 385 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVS. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Barclays reduced their price objective on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Stock Performance

CVS stock traded up $0.44 during midday trading on Friday, hitting $56.90. The stock had a trading volume of 1,630,496 shares, compared to its average volume of 11,118,508. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a 50-day simple moving average of $59.70 and a 200 day simple moving average of $59.65. The firm has a market capitalization of $71.58 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.83 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that CVS Health Co. will post 6.41 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.67%. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.

About CVS Health

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.