Tobam reduced its holdings in shares of CVS Health Co. (NYSE:CVS – Free Report) by 35.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,433 shares of the pharmacy operator’s stock after selling 2,983 shares during the quarter. Tobam’s holdings in CVS Health were worth $342,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health in the fourth quarter worth $32,000. First Community Trust NA raised its position in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares in the last quarter. Creekmur Asset Management LLC bought a new position in CVS Health during the fourth quarter worth $34,000. Steph & Co. boosted its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Finally, ORG Partners LLC increased its stake in CVS Health by 11,840.0% during 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. Institutional investors and hedge funds own 80.66% of the company’s stock.
Wall Street Analyst Weigh In
CVS has been the subject of a number of research reports. 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 report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Evercore ISI upped 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. Finally, Wells Fargo & Company upped their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $74.74.
CVS Health Trading Up 1.3 %
Shares of CVS stock opened at $66.85 on Friday. The company has a 50 day moving average price of $58.84 and a 200 day moving average price of $61.20. 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 Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The stock has a market capitalization of $84.10 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.
CVS Health (NYSE:CVS – Get Free Report) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.
CVS Health Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 3.98%. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.
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.
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