MML Investors Services LLC Has $12.85 Million Holdings in CVS Health Co. (NYSE:CVS)

MML Investors Services LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 44.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,296 shares of the pharmacy operator’s stock after selling 166,459 shares during the period. MML Investors Services LLC’s holdings in CVS Health were worth $12,846,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the third quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in CVS Health during the 3rd quarter valued at $33,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVS. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and issued a $67.00 price target (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Stock Down 1.6 %

Shares of NYSE CVS opened at $55.15 on Wednesday. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The firm’s 50-day simple moving average is $59.21 and its 200 day simple moving average is $58.78. 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 company has a market cap of $69.40 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 0.95 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.82%. CVS Health’s payout ratio is presently 67.51%.

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.