Brown Brothers Harriman & Co. Sells 662 Shares of CVS Health Co. (NYSE:CVS)

Brown Brothers Harriman & Co. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,591 shares of the pharmacy operator’s stock after selling 662 shares during the period. Brown Brothers Harriman & Co.’s holdings in CVS Health were worth $352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Garland Capital Management Inc. raised its holdings in CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC boosted its stake in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the period. Plimoth Trust Co. LLC grew its holdings in CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after buying an additional 174 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in shares of CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after acquiring an additional 183 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen boosted their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday. UBS Group lifted their price target 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. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Stock Performance

CVS Health stock opened at $59.96 on Thursday. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The stock has a 50-day simple moving average of $59.30 and a 200 day simple moving average of $58.72. 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 capitalization of $75.45 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the business earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.