HBW Advisory Services LLC Sells 2,012 Shares of CVS Health Co. (NYSE:CVS)

HBW Advisory Services LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 24.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,281 shares of the pharmacy operator’s stock after selling 2,012 shares during the period. HBW Advisory Services LLC’s holdings in CVS Health were worth $395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. purchased a new position in shares of CVS Health in the 4th quarter worth about $32,000. First Community Trust NA boosted its stake in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the fourth quarter worth approximately $34,000. Steph & Co. lifted its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Up 2.7 %

CVS stock traded up $1.67 during midday trading on Friday, reaching $64.59. 16,313,877 shares of the company traded hands, compared to its average volume of 11,032,696. The firm has a market capitalization of $81.08 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.81 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The business has a 50 day moving average of $58.60 and a 200-day moving average of $61.58. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $2.21 earnings per share. As a group, sell-side analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 4.12%. CVS Health’s dividend payout ratio is 46.75%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Evercore ISI lowered their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Barclays dropped their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company raised their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $73.40.

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.