CVS Health Co. (NYSE:CVS) Shares Sold by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC decreased its position in CVS Health Co. (NYSE:CVS) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,525 shares of the pharmacy operator’s stock after selling 550 shares during the period. Blodgett Wealth Advisors LLC’s holdings in CVS Health were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Garland Capital Management Inc. raised its holdings in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC grew its stake in CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the period. Silverlake Wealth Management LLC raised its position in shares of CVS Health by 1.6% during the first quarter. Silverlake Wealth Management LLC now owns 11,203 shares of the pharmacy operator’s stock worth $894,000 after purchasing an additional 173 shares during the period. Plimoth Trust Co. LLC grew its position in shares of 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 purchasing an additional 174 shares during the period. Finally, Hexagon Capital Partners LLC raised its holdings in CVS Health by 3.5% during the 3rd 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 period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock traded down $1.32 during midday trading on Tuesday, reaching $56.85. The company had a trading volume of 14,463,083 shares, compared to its average volume of 11,238,036. The company has a market capitalization of $71.37 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a 50 day moving average price of $59.85 and a 200-day moving average price of $60.32.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts expect that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $63.00 to $82.00 in a report on Thursday, October 10th. 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 research report on Friday, August 9th. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $75.26.

CVS Health 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.