Dixon Mitchell Investment Counsel Inc. Has $53,000 Holdings in CVS Health Co. (NYSE:CVS)

Dixon Mitchell Investment Counsel Inc. decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 53.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 842 shares of the pharmacy operator’s stock after selling 955 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in CVS Health were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CVS. Garland Capital Management Inc. raised its position in shares of CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the period. Silverlake Wealth Management LLC lifted its stake in CVS Health by 1.6% in the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock valued at $894,000 after buying an additional 173 shares during the period. Plimoth Trust Co. LLC boosted its holdings in CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the period. 80.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CVS shares. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $63.00 to $82.00 in a research note on Thursday, October 10th. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Truist Financial raised their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine equities 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 has an average rating of “Moderate Buy” and an average target price of $75.26.

CVS Health Stock Down 5.2 %

CVS Health stock opened at $60.35 on Friday. The company has a fifty day simple moving average of $59.80 and a 200 day simple moving average of $60.62. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a market cap of $75.76 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last released 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 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 the consensus estimate of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company 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 annualized dividend and a dividend yield of 4.41%. CVS Health’s dividend payout ratio is presently 46.75%.

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.