CVS Health Co. (NYSE:CVS) Stock Position Decreased by TCTC Holdings LLC

TCTC Holdings LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 390,349 shares of the pharmacy operator’s stock after selling 25,556 shares during the period. CVS Health accounts for approximately 0.8% of TCTC Holdings LLC’s portfolio, making the stock its 29th biggest position. TCTC Holdings LLC’s holdings in CVS Health were worth $24,545,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Capital World Investors increased its stake 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 acquiring an additional 3,232,172 shares during the period. Capital International Investors raised its position in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares during the last quarter. Capital Research Global Investors increased its position in shares of CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after buying an additional 184,297 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in CVS Health by 5.9% in the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after purchasing an additional 389,166 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial increased their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Finally, 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 research report on Thursday. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Price Performance

Shares of NYSE CVS opened at $55.56 on Friday. The stock has a market capitalization of $69.89 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.94 and a beta of 0.55. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The firm’s 50 day simple moving average is $59.56 and its 200-day simple moving average is $59.19. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. Analysts expect that CVS Health Co. will post 6.18 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.