GHP Investment Advisors Inc. Trims Stock Position in CVS Health Co. (NYSE:CVS)

GHP Investment Advisors Inc. decreased its stake in CVS Health Co. (NYSE:CVS) by 10.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,695 shares of the pharmacy operator’s stock after selling 6,519 shares during the quarter. GHP Investment Advisors Inc.’s holdings in CVS Health were worth $3,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Pathway Financial Advisers LLC grew its stake in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the period. Forsta AP Fonden increased its stake in shares of CVS Health by 9.4% in the 3rd quarter. Forsta AP Fonden now owns 343,000 shares of the pharmacy operator’s stock valued at $21,568,000 after purchasing an additional 29,500 shares in the last quarter. Allworth Financial LP raised its holdings in CVS Health by 10.7% in the 3rd quarter. Allworth Financial LP now owns 17,613 shares of the pharmacy operator’s stock worth $1,108,000 after purchasing an additional 1,706 shares during the period. Joel Isaacson & Co. LLC boosted its position in CVS Health by 57.6% during the third quarter. Joel Isaacson & Co. LLC now owns 5,473 shares of the pharmacy operator’s stock worth $344,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Cullinan Associates Inc. increased its position in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Up 0.7 %

Shares of NYSE CVS opened at $56.49 on Friday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market capitalization of $70.92 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.84 and a beta of 0.54. The company has a 50 day simple moving average of $59.82 and a 200-day simple moving average of $59.92. 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 posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 earnings per share. On average, equities research analysts predict that CVS Health Co. will post 6.41 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given 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 is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVS. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday. Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Truist Financial raised their price target 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has a consensus 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.