Patton Albertson Miller Group LLC Has $6.23 Million Position in CVS Health Co. (NYSE:CVS)

Patton Albertson Miller Group LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,018 shares of the pharmacy operator’s stock after selling 4,737 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in CVS Health were worth $6,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CVS. West Tower Group LLC acquired a new position in CVS Health during the 3rd quarter worth about $302,000. The Manufacturers Life Insurance Company lifted its holdings in CVS Health by 7.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,096,238 shares of the pharmacy operator’s stock valued at $68,931,000 after purchasing an additional 79,132 shares during the last quarter. Longfellow Investment Management Co. LLC increased its position in shares of CVS Health by 18,352.5% in the third quarter. Longfellow Investment Management Co. LLC now owns 7,381 shares of the pharmacy operator’s stock worth $464,000 after purchasing an additional 7,341 shares during the period. Truvestments Capital LLC acquired a new position in shares of CVS Health during the third quarter worth $356,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of CVS Health by 12.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 153,359 shares of the pharmacy operator’s stock valued at $9,643,000 after purchasing an additional 16,549 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 3.6 %

CVS opened at $60.10 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $75.63 billion, a PE ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The business has a 50 day moving average of $59.25 and a 200-day moving average of $58.67. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25.

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 the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $2.21 earnings per share. Equities research analysts predict that CVS Health Co. will post 5.43 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 given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CVS shares. UBS Group boosted their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. TD Cowen lifted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $70.33.

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.