Valley National Advisers Inc. Sells 1,275 Shares of CVS Health Co. (NYSE:CVS)

Valley National Advisers Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 21.5% during the third quarter, Holdings Channel reports. The fund owned 4,659 shares of the pharmacy operator’s stock after selling 1,275 shares during the period. Valley National Advisers Inc.’s holdings in CVS Health were worth $292,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bristlecone Advisors LLC raised its position in CVS Health by 4.0% in the 3rd quarter. Bristlecone Advisors LLC now owns 10,340 shares of the pharmacy operator’s stock worth $650,000 after purchasing an additional 395 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of CVS Health by 222.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,858,556 shares of the pharmacy operator’s stock worth $113,855,000 after acquiring an additional 1,282,956 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. Forsta AP Fonden boosted its holdings in CVS Health by 9.4% in the third quarter. Forsta AP Fonden now owns 343,000 shares of the pharmacy operator’s stock valued at $21,568,000 after acquiring an additional 29,500 shares during the last quarter. Finally, Allworth Financial LP increased its position in CVS Health by 10.7% in the third quarter. Allworth Financial LP now owns 17,613 shares of the pharmacy operator’s stock worth $1,108,000 after purchasing an additional 1,706 shares during the period. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVS shares. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday. Wells Fargo & Company lifted their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Barclays dropped their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Nine research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Stock Performance

CVS opened at $56.49 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The company has a market capitalization of $70.92 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 0.84 and a beta of 0.54. The business’s 50-day moving average price is $59.82 and its two-hundred day moving average price is $59.84. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm 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 business posted $2.21 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed 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 of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. 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.