CVS Health Co. (NYSE:CVS) Shares Sold by Barrett & Company Inc.

Barrett & Company Inc. cut its position in shares of CVS Health Co. (NYSE:CVS) by 4.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,174 shares of the pharmacy operator’s stock after selling 312 shares during the quarter. Barrett & Company Inc.’s holdings in CVS Health were worth $388,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Capital International Investors boosted its holdings in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares during the last quarter. Capital World Investors raised its holdings in shares of CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS traded up $0.97 during mid-day trading on Monday, reaching $57.46. 1,540,668 shares of the stock were exchanged, compared to its average volume of 11,177,867. 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 1 year low of $52.77 and a 1 year high of $83.25. The company has a 50 day simple moving average of $59.82 and a 200-day simple moving average of $59.84. The stock has a market capitalization of $72.13 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 earnings per share. Analysts anticipate that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CVS shares. Barclays lowered their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Truist Financial boosted their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Mizuho reduced 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 note on Thursday. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.58.

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.