Novare Capital Management LLC Sells 2,151 Shares of CVS Health Co. (NYSE:CVS)

Novare Capital Management LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,232 shares of the pharmacy operator’s stock after selling 2,151 shares during the quarter. Novare Capital Management LLC’s holdings in CVS Health were worth $5,925,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CVS. Capital World Investors lifted its stake in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the period. Capital International Investors lifted its position in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital Research Global Investors increased its position in shares of CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the period. Pzena Investment Management LLC raised 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 valued at $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in CVS Health by 5.9% during the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after buying an additional 389,166 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVS shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $63.00 to $82.00 in a report on Thursday. Wells Fargo & Company raised their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Truist Financial increased their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Evercore ISI boosted their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Trading Up 0.9 %

NYSE CVS traded up $0.57 during trading on Monday, reaching $67.20. 1,741,843 shares of the stock traded hands, compared to its average volume of 10,992,387. The stock’s 50-day moving average price is $59.12 and its 200 day moving average price is $60.89. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market cap of $84.36 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm 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 company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.