Swiss National Bank Sells 1,200 Shares of CVS Health Co. (NYSE:CVS)

Swiss National Bank trimmed its holdings in CVS Health Co. (NYSE:CVS) by 0.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,724,760 shares of the pharmacy operator’s stock after selling 1,200 shares during the period. Swiss National Bank’s holdings in CVS Health were worth $234,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Capital World Investors boosted its stake in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Capital International Investors boosted its position in shares of CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after buying an additional 4,226,225 shares during the last quarter. Capital Research Global Investors grew its holdings in CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after buying an additional 184,297 shares in the last quarter. Pzena Investment Management LLC raised its position in 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 buying an additional 7,382,931 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after acquiring an additional 389,166 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE CVS opened at $53.19 on Monday. The stock has a fifty day moving average of $59.23 and a 200-day moving average of $58.60. The stock has a market cap of $66.93 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. Equities research analysts anticipate that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.00%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analysts Set New Price Targets

Several brokerages have recently commented on CVS. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Truist Financial upped their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.44.

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.