Wealth Effects LLC Sells 356 Shares of CVS Health Co. (NYSE:CVS)

Wealth Effects LLC lowered its stake in CVS Health Co. (NYSE:CVS) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,090 shares of the pharmacy operator’s stock after selling 356 shares during the period. Wealth Effects LLC’s holdings in CVS Health were worth $446,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CVS. Pzena Investment Management LLC increased its stake in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Capital International Investors boosted its holdings in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital World Investors grew its position in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. State of Michigan Retirement System raised its position 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 buying an additional 1,606,500 shares during the last quarter. Finally, Swedbank AB acquired a new position in CVS Health in the 1st quarter valued at approximately $110,816,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVS shares. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 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 report on Friday, October 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Trading Down 3.3 %

NYSE:CVS traded down $2.02 during mid-day trading on Monday, hitting $58.32. The company had a trading volume of 5,753,201 shares, compared to its average volume of 11,201,404. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market cap of $73.21 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.93 and a beta of 0.54. The business’s fifty day moving average is $59.80 and its two-hundred day moving average is $60.43.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS. As a group, research analysts expect that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

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 dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s 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.