MidWestOne Financial Group Inc. Sells 32,538 Shares of CVS Health Co. (NYSE:CVS)

MidWestOne Financial Group Inc. lowered its stake in CVS Health Co. (NYSE:CVS) by 85.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,664 shares of the pharmacy operator’s stock after selling 32,538 shares during the period. MidWestOne Financial Group Inc.’s holdings in CVS Health were worth $335,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after acquiring an additional 533,659 shares in the last quarter. Capital World Investors lifted its position in 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 buying an additional 3,232,172 shares during the period. Capital International Investors lifted its position in 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 period. Capital Research Global Investors lifted its position 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 valued at $1,048,351,000 after buying an additional 184,297 shares during the period. Finally, Pzena Investment Management LLC lifted its position in CVS Health by 132.9% during the second 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 period. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several recent research reports. Barclays lowered their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Evercore ISI lowered their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Price Performance

NYSE CVS opened at $61.38 on Friday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a 50-day moving average of $58.20 and a 200 day moving average of $61.96. The company has a market capitalization of $77.05 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.81 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. On average, sell-side analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.33%. CVS Health’s dividend payout ratio is currently 46.75%.

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.