CVS Health Co. (NYSE:CVS) Stake Decreased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,457 shares of the pharmacy operator’s stock after selling 4,355 shares during the period. Valeo Financial Advisors LLC’s holdings in CVS Health were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CVS. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 132.9% during 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 buying an additional 7,382,931 shares during the last quarter. Capital International Investors increased its stake in shares of CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital World Investors increased its stake in shares of CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. State of Michigan Retirement System increased its stake in shares of CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after acquiring an additional 1,606,500 shares during the period. Finally, Swedbank AB acquired a new position in shares of CVS Health during the first quarter valued at approximately $110,816,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.3 %

Shares of NYSE:CVS opened at $66.63 on Friday. The firm has a fifty day moving average of $59.12 and a two-hundred day moving average of $61.02. The firm has a market capitalization of $83.65 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.93 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 company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the business posted $2.21 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts expect that CVS Health Co. will post 6.51 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. Investors of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is presently 46.75%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVS. 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 note on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $63.00 to $82.00 in a research report on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $75.26.

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.