WFA of San Diego LLC Sells 695 Shares of CVS Health Co. (NYSE:CVS)

WFA of San Diego LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,557 shares of the pharmacy operator’s stock after selling 695 shares during the quarter. WFA of San Diego LLC’s holdings in CVS Health were worth $161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health during the 3rd quarter valued at about $32,000. First Community Trust NA increased its stake in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the 3rd quarter worth approximately $33,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.6 %

Shares of CVS Health stock opened at $59.96 on Thursday. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The company 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. The business has a fifty day simple moving average of $59.30 and a two-hundred day simple moving average of $58.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

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

CVS Health Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVS. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. TD Cowen boosted their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

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.