CVS Health Co. (NYSE:CVS) Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC lessened its position in shares of CVS Health Co. (NYSE:CVS) by 45.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,128 shares of the pharmacy operator’s stock after selling 8,277 shares during the quarter. Global Trust Asset Management LLC’s holdings in CVS Health were worth $637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors lifted its holdings in CVS Health by 8.0% during 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 purchasing an additional 3,232,172 shares in the last quarter. Capital International Investors lifted its holdings in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital Research Global Investors lifted its holdings in 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 in the last quarter. Pzena Investment Management LLC lifted its holdings in CVS Health by 132.9% during 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 lifted its holdings 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 valued at $555,406,000 after purchasing an additional 389,166 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS opened at $56.11 on Friday. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a market cap of $70.44 billion, a PE ratio of 9.86, a P/E/G ratio of 0.93 and a beta of 0.54. The firm has a 50-day simple moving average of $59.88 and a two-hundred day simple moving average of $60.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last announced its quarterly 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. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same period last year, the business earned $2.21 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Barclays decreased their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $74.58.

CVS Health Company 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.