Heritage Investors Management Corp Sells 5,582 Shares of CVS Health Co. (NYSE:CVS)

Heritage Investors Management Corp lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 17.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,161 shares of the pharmacy operator’s stock after selling 5,582 shares during the quarter. Heritage Investors Management Corp’s holdings in CVS Health were worth $1,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Garland Capital Management Inc. raised its stake in CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC raised its stake in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the period. Plimoth Trust Co. LLC raised its stake in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after purchasing an additional 174 shares during the period. Hexagon Capital Partners LLC increased its stake in CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after acquiring an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its stake in CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of a number of research reports. TD Cowen raised 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 note on Friday, October 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Truist Financial lifted their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.11.

CVS Health Price Performance

CVS opened at $55.33 on Wednesday. The business has a fifty day moving average of $59.51 and a 200 day moving average of $59.29. 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 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market cap of $69.60 billion, a P/E ratio of 9.85, a PEG ratio of 0.82 and a beta of 0.55.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is 47.33%.

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.