HM Payson & Co. Reduces Holdings in CVS Health Co. (NYSE:CVS)

HM Payson & Co. cut its position in CVS Health Co. (NYSE:CVS) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,390 shares of the pharmacy operator’s stock after selling 3,500 shares during the quarter. HM Payson & Co.’s holdings in CVS Health were worth $2,162,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its holdings in shares of 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 worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Capital International Investors increased its holdings in shares of CVS Health by 12.5% in 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 during the period. Capital World Investors lifted its holdings in shares of CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Pathway Financial Advisers LLC grew its position in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the last quarter. Finally, State of Michigan Retirement System raised its position in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI boosted their price target 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. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Trading Up 0.1 %

CVS Health stock opened at $56.46 on Friday. The stock has a market cap of $71.03 billion, a PE ratio of 10.05, a P/E/G ratio of 0.83 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average price of $59.70 and a 200 day moving average price of $59.65. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Equities research analysts predict that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business 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 of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. CVS Health’s payout ratio is currently 47.33%.

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.