Osborne Partners Capital Management LLC Sells 1,872 Shares of CVS Health Co. (NYSE:CVS)

Osborne Partners Capital Management LLC trimmed its stake in CVS Health Co. (NYSE:CVS) by 0.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 209,125 shares of the pharmacy operator’s stock after selling 1,872 shares during the period. Osborne Partners Capital Management LLC’s holdings in CVS Health were worth $13,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C purchased a new stake in CVS Health in the second quarter worth about $57,584,000. CX Institutional increased its holdings in CVS Health by 698.0% in the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after acquiring an additional 65,259 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after acquiring an additional 145,158 shares during the period. First Hawaiian Bank lifted its holdings in CVS Health by 30.1% during the second quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock valued at $5,924,000 after purchasing an additional 23,213 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of CVS Health by 7.2% in the third quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after purchasing an additional 17,206 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $56.49 on Friday. 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 capitalization of $71.06 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.84 and a beta of 0.54. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm’s 50-day moving average is $59.85 and its 200 day moving average is $60.14.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 earnings per share. Research analysts predict that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced 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. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Truist Financial increased their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut 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 note on Friday, August 9th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.58.

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.