Palouse Capital Management Inc. Trims Position in CVS Health Co. (NYSE:CVS)

Palouse Capital Management Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,620 shares of the pharmacy operator’s stock after selling 1,263 shares during the period. Palouse Capital Management Inc.’s holdings in CVS Health were worth $1,485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Livelsberger Financial Advisory purchased a new stake in CVS Health in the third quarter worth $31,000. Wealth Advisory Solutions LLC bought a new stake in CVS Health during the third quarter worth about $266,000. Penn Davis Mcfarland Inc. purchased a new position in shares of CVS Health during the third quarter valued at approximately $2,837,000. Vest Financial LLC bought a new position in CVS Health during the 3rd quarter valued at approximately $512,000. Finally, OLD National Bancorp IN increased its holdings in shares of CVS Health by 2.6% during the third quarter. OLD National Bancorp IN now owns 283,706 shares of the pharmacy operator’s stock valued at $17,839,000 after acquiring an additional 7,144 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVS shares. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $63.00 to $82.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $75.26.

CVS Health Trading Down 3.3 %

CVS stock traded down $1.99 during mid-day trading on Monday, reaching $58.35. 9,403,077 shares of the stock traded hands, compared to its average volume of 11,219,384. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The business has a 50-day moving average price of $59.80 and a two-hundred day moving average price of $60.43. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a market capitalization of $73.25 billion, a PE ratio of 10.60, a PEG ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 EPS. Equities research analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.56%. CVS Health’s dividend payout ratio is presently 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.