CVS Health Co. (NYSE:CVS) Stake Reduced by Moors & Cabot Inc.

Moors & Cabot Inc. decreased its position in CVS Health Co. (NYSE:CVS) by 19.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 140,914 shares of the pharmacy operator’s stock after selling 32,950 shares during the period. Moors & Cabot Inc.’s holdings in CVS Health were worth $8,861,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of CVS Health by 55.5% during the first quarter. Bessemer Group Inc. now owns 73,343 shares of the pharmacy operator’s stock valued at $5,849,000 after buying an additional 26,173 shares in the last quarter. Crewe Advisors LLC acquired a new stake in CVS Health during the 1st quarter worth about $40,000. LGT Group Foundation increased its holdings in shares of CVS Health by 3.1% in the 1st quarter. LGT Group Foundation now owns 24,203 shares of the pharmacy operator’s stock valued at $1,930,000 after purchasing an additional 736 shares during the period. Fayez Sarofim & Co lifted its position in shares of CVS Health by 4.7% in the first quarter. Fayez Sarofim & Co now owns 11,354 shares of the pharmacy operator’s stock worth $906,000 after purchasing an additional 513 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of CVS Health by 127.5% during the first quarter. EntryPoint Capital LLC now owns 1,397 shares of the pharmacy operator’s stock worth $111,000 after purchasing an additional 783 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS traded up $1.52 during mid-day trading on Wednesday, hitting $57.29. 396,906 shares of the company traded hands, compared to its average volume of 11,329,482. 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 stock has a market capitalization of $72.09 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.92 and a beta of 0.55. The business has a 50-day moving average of $59.18 and a 200 day moving average of $58.60. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. As a group, equities analysts expect that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.64%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

CVS has been the subject of a number of research reports. Truist Financial lifted their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $66.00 in a report on Monday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.78.

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.