Carret Asset Management LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Carret Asset Management LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 15.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,329 shares of the pharmacy operator’s stock after selling 16,105 shares during the quarter. Carret Asset Management LLC’s holdings in CVS Health were worth $5,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of CVS. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter valued at approximately $31,000. First Community Trust NA lifted its position in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the 3rd quarter worth about $33,000. ORG Partners LLC grew its holdings in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of CVS Health by 71.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 247 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.7 %

CVS stock opened at $56.49 on Friday. The stock has a market capitalization of $70.92 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 0.84 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. The firm has a 50-day moving average price of $59.82 and a 200-day moving average price of $59.92. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $2.21 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 of this dividend is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays cut their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Mizuho cut their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company increased their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $74.58.

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.