CVS Health Co. (NYSE:CVS) Shares Sold by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 13.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,300 shares of the pharmacy operator’s stock after selling 1,487 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in CVS Health were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth $32,000. First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the third quarter worth about $33,000. Finally, ORG Partners LLC lifted its position in CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 3.2 %

Shares of NYSE:CVS opened at $54.04 on Wednesday. The company has a market capitalization of $68.00 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.97 and a beta of 0.55. The stock’s fifty day simple moving average is $59.47 and its 200-day simple moving average is $58.88. 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 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly 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. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 5.44 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

Analysts Set New Price Targets

Several research firms have issued reports on CVS. TD Cowen upgraded 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Truist Financial boosted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.