Hartford Financial Management Inc. Sells 368 Shares of CVS Health Co. (NYSE:CVS)

Hartford Financial Management Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,597 shares of the pharmacy operator’s stock after selling 368 shares during the quarter. Hartford Financial Management Inc.’s holdings in CVS Health were worth $2,175,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Garland Capital Management Inc. boosted its holdings in CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC boosted its holdings in CVS Health by 7.2% during the 3rd 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. Plimoth Trust Co. LLC boosted its holdings in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares during the period. Hexagon Capital Partners LLC boosted 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 valued at $331,000 after acquiring an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after buying an additional 183 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Wells Fargo & Company upped their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Stock Up 0.1 %

Shares of CVS stock opened at $56.46 on Friday. The stock’s 50-day simple moving average is $59.70 and its 200-day simple moving average is $59.65. 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 firm has a market capitalization of $71.03 billion, a PE ratio of 10.05, a P/E/G ratio of 0.83 and a beta of 0.54. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 earnings per share. Equities analysts expect that CVS Health Co. will post 6.41 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.71%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 47.33%.

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.