Affinity Investment Advisors LLC Trims Stock Position in CVS Health Co. (NYSE:CVS)

Affinity Investment Advisors LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 32.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,670 shares of the pharmacy operator’s stock after selling 8,158 shares during the quarter. Affinity Investment Advisors LLC’s holdings in CVS Health were worth $1,048,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. Garland Capital Management Inc. boosted 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 purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in 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 buying an additional 162 shares in the last quarter. Plimoth Trust Co. LLC grew its position in CVS Health by 0.4% in 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. Hexagon Capital Partners LLC increased its holdings in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in shares of CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVS shares. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company raised their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Barclays cut their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Mizuho lowered 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, October 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $68.00 target price 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 stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $74.58.

CVS Health Stock Performance

NYSE:CVS opened at $55.81 on Friday. The firm has a market capitalization of $70.21 billion, a PE ratio of 9.93, a PEG ratio of 0.83 and a beta of 0.54. 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 firm’s fifty day simple moving average is $59.66 and its 200 day simple moving average is $59.62.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping 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 analyst estimates of $91.41 billion. During the same period in the previous year, the company posted $2.21 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. CVS Health’s payout ratio is 47.33%.

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.