Dearborn Partners LLC Sells 6,273 Shares of CVS Health Co. (NYSE:CVS)

Dearborn Partners LLC decreased its holdings in CVS Health Co. (NYSE:CVS) by 47.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,013 shares of the pharmacy operator’s stock after selling 6,273 shares during the quarter. Dearborn Partners LLC’s holdings in CVS Health were worth $441,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CVS. Garland Capital Management Inc. increased its stake in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the last quarter. Plimoth Trust Co. LLC raised its holdings in shares of CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its position in CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $53.19 on Friday. The firm has a 50 day moving average of $59.32 and a 200-day moving average of $58.76. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $66.93 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm 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%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group raised their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial boosted their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.44.

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.