CVS Health Co. (NYSE:CVS) Shares Sold by Country Club Bank

by · The Markets Daily

Country Club Bank lowered its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 32.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,645 shares of the pharmacy operator’s stock after selling 30,278 shares during the quarter. Country Club Bank’s holdings in CVS Health were worth $3,907,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVS. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 132.9% in 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 purchasing an additional 7,382,931 shares during the period. Capital International Investors increased its stake in CVS Health by 12.5% in the 1st 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 World Investors raised its position in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares during the period. Finally, Swedbank AB purchased a new stake in shares of CVS Health in the first quarter valued at about $110,816,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Up 0.7 %

CVS Health stock opened at $56.49 on Friday. The stock has a market cap of $71.06 billion, a PE ratio of 10.05, a P/E/G ratio of 0.84 and a beta of 0.54. 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 stock has a 50-day moving average price of $59.85 and a 200 day moving average price of $60.14. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS – Get Free Report) 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 during 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%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 earnings per share. Equities research analysts predict that CVS Health Co. will post 6.41 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. Investors 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 yield of 4.71%. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.58.

Read Our Latest Research Report on CVS Health

CVS Health 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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