CVS Health Co. (NYSE:CVS) Position Trimmed by WealthCare Investment Partners LLC

WealthCare Investment Partners LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 29.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,946 shares of the pharmacy operator’s stock after selling 1,648 shares during the quarter. WealthCare Investment Partners LLC’s holdings in CVS Health were worth $257,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. First Financial Bankshares Inc purchased a new stake in shares of CVS Health during the 4th quarter worth about $1,117,000. Avidity Partners Management LP bought a new stake in CVS Health in the fourth quarter worth approximately $58,430,000. Continuum Advisory LLC increased its stake in shares of CVS Health by 16.1% during the 4th quarter. Continuum Advisory LLC now owns 31,881 shares of the pharmacy operator’s stock worth $2,517,000 after purchasing an additional 4,422 shares during the last quarter. Midland Wealth Advisors LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at $1,315,000. Finally, Comerica Bank boosted its holdings in CVS Health by 0.8% in the fourth quarter. Comerica Bank now owns 420,164 shares of the pharmacy operator’s stock worth $33,176,000 after purchasing an additional 3,305 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVS shares. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Barclays reduced their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $74.05.

CVS Health Stock Performance

CVS Health stock opened at $65.88 on Wednesday. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a 50-day simple moving average of $58.67 and a 200 day simple moving average of $61.25. 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 capitalization of $82.70 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 earnings per share. On average, research analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is 46.75%.

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.