CVS Health Co. (NYSE:CVS) Shares Sold by J.P. Marvel Investment Advisors LLC

J.P. Marvel Investment Advisors LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,747 shares of the pharmacy operator’s stock after selling 1,445 shares during the quarter. J.P. Marvel Investment Advisors LLC’s holdings in CVS Health were worth $4,260,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in CVS Health during the third quarter valued at about $31,000. Crewe Advisors LLC purchased a new stake in shares of CVS Health during the 1st quarter worth about $40,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the third quarter valued at approximately $33,000. Finally, First Community Trust NA lifted its position in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group upped their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Stock Down 7.3 %

Shares of CVS Health stock opened at $57.11 on Friday. The business has a 50-day moving average price of $59.59 and a 200 day moving average price of $59.23. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market cap of $71.84 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.82 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Co. will post 6.27 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) 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.