CVS Health Co. (NYSE:CVS) Stock Position Raised by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC boosted its position in shares of CVS Health Co. (NYSE:CVS) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,789 shares of the pharmacy operator’s stock after purchasing an additional 1,342 shares during the period. Soltis Investment Advisors LLC’s holdings in CVS Health were worth $6,338,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter valued at $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the third quarter valued at approximately $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Truist Financial reissued a “buy” rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Mizuho dropped 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. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Trading Down 1.6 %

CVS Health stock opened at $55.15 on Wednesday. The business’s 50-day simple moving average is $59.21 and its 200-day simple moving average is $58.78. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The firm has a market capitalization of $69.40 billion, a PE ratio of 14.00, a PEG ratio of 0.95 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the company earned $2.21 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.82%. CVS Health’s payout ratio is 67.51%.

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.