Concentric Wealth Management LLC Sells 200 Shares of CVS Health Co. (NYSE:CVS)

Concentric Wealth Management LLC lowered its holdings in CVS Health Co. (NYSE:CVS) by 2.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,662 shares of the pharmacy operator’s stock after selling 200 shares during the period. Concentric Wealth Management LLC’s holdings in CVS Health were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its position in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after buying an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after acquiring an additional 304,386 shares during the period. AQR Capital Management LLC boosted its stake in CVS Health by 33.5% during the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after buying an additional 1,327,855 shares in the last quarter. National Pension Service boosted its position in shares of CVS Health by 17.4% during the 3rd quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock valued at $178,793,000 after acquiring an additional 421,416 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of CVS Health by 2.4% in the 2nd quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator’s stock valued at $143,890,000 after purchasing an additional 57,214 shares during the period. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CVS shares. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, UBS Group lifted 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.28.

CVS Health Stock Up 1.6 %

NYSE CVS opened at $58.01 on Monday. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The business has a fifty day moving average price of $59.21 and a two-hundred day moving average price of $58.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $73.00 billion, a PE ratio of 14.72, a PEG ratio of 0.98 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating 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%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. Equities analysts expect that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 4.59%. CVS Health’s payout ratio is presently 67.51%.

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.