CVS Health Co. (NYSE:CVS) Shares Sold by HM Payson & Co.

HM Payson & Co. reduced its position in CVS Health Co. (NYSE:CVS) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,390 shares of the pharmacy operator’s stock after selling 3,500 shares during the period. HM Payson & Co.’s holdings in CVS Health were worth $2,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. Cullinan Associates Inc. raised its position in CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in CVS Health in the 2nd quarter worth approximately $57,584,000. CX Institutional raised its stake in shares of CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after purchasing an additional 65,259 shares during the period. Susquehanna Fundamental Investments LLC lifted its position in shares of CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after purchasing an additional 145,158 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of CVS Health by 30.1% in the second quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock valued at $5,924,000 after purchasing an additional 23,213 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CVS. Wells Fargo & Company boosted their price objective 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Mizuho cut their target price on 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, Evercore ISI raised their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.58.

CVS Health Price Performance

Shares of NYSE CVS opened at $56.46 on Friday. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm has a market capitalization of $71.03 billion, a PE ratio of 10.05, a P/E/G ratio of 0.83 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The business’s fifty day moving average price is $59.70 and its two-hundred day moving average price is $59.65.

CVS Health (NYSE:CVS) last posted 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 firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period in the previous year, the business posted $2.21 EPS. CVS Health’s revenue was up 2.6% on a year-over-year basis. On average, research analysts expect 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 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 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 47.33%.

CVS Health 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.