Heritage Investors Management Corp Trims Position in CVS Health Co. (NYSE:CVS)

Heritage Investors Management Corp cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,161 shares of the pharmacy operator’s stock after selling 5,582 shares during the period. Heritage Investors Management Corp’s holdings in CVS Health were worth $1,645,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capital World Investors raised its holdings in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Capital International Investors raised its holdings in CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital Research Global Investors raised its holdings in CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after purchasing an additional 184,297 shares in the last quarter. Pzena Investment Management LLC raised its holdings in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in CVS Health by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after purchasing an additional 389,166 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.2 %

Shares of NYSE:CVS opened at $55.33 on Wednesday. The stock has a market capitalization of $69.60 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 0.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock’s 50-day simple moving average is $59.51 and its two-hundred day simple moving average is $59.29. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter last year, the company earned $2.21 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 47.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVS shares. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and raised their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Barclays reduced their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Truist Financial increased their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $73.11.

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.