CVS Health Co. (NYSE:CVS) Position Trimmed by Court Place Advisors LLC

by · The Cerbat Gem

Court Place Advisors LLC lowered its stake in CVS Health Co. (NYSE:CVS – Free Report) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,700 shares of the pharmacy operator’s stock after selling 833 shares during the period. Court Place Advisors LLC’s holdings in CVS Health were worth $2,874,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Garland Capital Management Inc. boosted its stake in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its holdings in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after acquiring an additional 162 shares during the last quarter. Silverlake Wealth Management LLC raised its stake in shares of CVS Health by 1.6% in the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock worth $894,000 after acquiring an additional 173 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in shares of CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial lifted their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Company upped their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

Check Out Our Latest Stock Report on CVS

CVS Health Stock Up 1.9 %

Shares of NYSE:CVS traded up $1.08 during trading on Friday, hitting $57.20. 2,043,874 shares of the company’s stock traded hands, compared to its average volume of 11,191,785. The company has a 50-day moving average price of $59.88 and a 200-day moving average price of $60.17. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The company has a market cap of $71.96 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.65%. CVS Health’s dividend payout ratio is currently 47.33%.

CVS Health Company Profile

(Free Report)

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.

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