Cutler Investment Counsel LLC Cuts Position in CVS Health Co. (NYSE:CVS)

Cutler Investment Counsel LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 148,150 shares of the pharmacy operator’s stock after selling 2,724 shares during the quarter. Cutler Investment Counsel LLC’s holdings in CVS Health were worth $9,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spirepoint Private Client LLC purchased a new position in shares of CVS Health in the 1st quarter valued at approximately $225,000. TIAA Trust National Association lifted its holdings in shares of CVS Health by 0.9% during the first quarter. TIAA Trust National Association now owns 40,844 shares of the pharmacy operator’s stock worth $3,258,000 after purchasing an additional 369 shares during the period. Catalytic Wealth RIA LLC increased its holdings in CVS Health by 13.0% in the 1st quarter. Catalytic Wealth RIA LLC now owns 17,534 shares of the pharmacy operator’s stock worth $1,399,000 after buying an additional 2,022 shares during the period. Resurgent Financial Advisors LLC raised its position in CVS Health by 45.3% during the 1st quarter. Resurgent Financial Advisors LLC now owns 4,339 shares of the pharmacy operator’s stock worth $346,000 after buying an additional 1,352 shares during the last quarter. Finally, Davis R M Inc. lifted its stake in CVS Health by 8.7% during the 1st quarter. Davis R M Inc. now owns 3,010 shares of the pharmacy operator’s stock valued at $240,000 after acquiring an additional 242 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, Wells Fargo & Company lowered their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $72.44.

CVS Health Trading Down 3.4 %

Shares of NYSE CVS traded down $1.90 during midday trading on Friday, reaching $53.19. 16,695,415 shares of the stock were exchanged, compared to its average volume of 11,341,820. The company has a 50 day simple moving average of $59.23 and a 200 day simple moving average of $58.72. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a market capitalization of $66.93 billion, a P/E ratio of 13.50, a PEG ratio of 0.93 and a beta of 0.55. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.00%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

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.