MAI Capital Management Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

MAI Capital Management cut its holdings in CVS Health Co. (NYSE:CVS) by 22.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,154 shares of the pharmacy operator’s stock after selling 16,051 shares during the quarter. MAI Capital Management’s holdings in CVS Health were worth $3,468,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Livelsberger Financial Advisory acquired a new position in CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter worth about $32,000. First Community Trust NA lifted its stake in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the 3rd quarter worth about $33,000. Finally, ORG Partners LLC increased its stake in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVS. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price 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. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Barclays decreased their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.78.

CVS Health Stock Down 0.4 %

CVS Health stock opened at $55.82 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a 50 day moving average price of $59.18 and a 200 day moving average price of $58.60. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The company has a market capitalization of $70.24 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts expect that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

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.