CVS Health Co. (NYSE:CVS) Stake Lowered by Mizuho Securities USA LLC

Mizuho Securities USA LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,573 shares of the pharmacy operator’s stock after selling 15,225 shares during the period. Mizuho Securities USA LLC’s holdings in CVS Health were worth $5,129,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $66.00 in a research report on Monday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Truist Financial restated a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a research note on Wednesday. One equities 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 stock presently has an average rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Stock Performance

CVS stock opened at $57.07 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The business’s fifty day moving average is $59.20 and its 200-day moving average is $58.60. The company has a market cap of $71.81 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the firm earned $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Announces Dividend

The business 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 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.