Headinvest LLC Sells 5,994 Shares of CVS Health Co. (NYSE:CVS)

Headinvest LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 18.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,778 shares of the pharmacy operator’s stock after selling 5,994 shares during the period. Headinvest LLC’s holdings in CVS Health were worth $1,684,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. Pzena Investment Management LLC grew its holdings in CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after buying an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CVS Health by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator’s stock valued at $443,301,000 after acquiring an additional 107,977 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays cut their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $55.29 on Friday. The business has a fifty day moving average of $59.32 and a 200-day moving average of $58.78. The firm has a market cap of $69.58 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 0.54. 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 twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 4.81%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

CVS Health Company 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.