CVS Health Co. (NYSE:CVS) Stock Holdings Decreased by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its stake in CVS Health Co. (NYSE:CVS) by 60.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 214,722 shares of the pharmacy operator’s stock after selling 332,253 shares during the period. CIBC Asset Management Inc’s holdings in CVS Health were worth $13,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CVS. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter valued at about $31,000. Crewe Advisors LLC bought a new stake in shares of CVS Health during the 1st quarter valued at about $40,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health during the 3rd quarter valued at about $33,000. Finally, First Community Trust NA grew its position in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 3.4 %

CVS stock opened at $53.19 on Friday. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The firm has a market cap of $66.93 billion, a PE ratio of 13.50, a P/E/G ratio of 0.93 and a beta of 0.55. The firm has a 50 day simple moving average of $59.23 and a 200 day simple moving average of $58.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the business earned $2.21 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.00%. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company decreased their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial upped their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft decreased 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.44.

CVS Health 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.