Everett Harris & Co. CA Has $1.05 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Everett Harris & Co. CA reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 20.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,620 shares of the pharmacy operator’s stock after selling 4,187 shares during the quarter. Everett Harris & Co. CA’s holdings in CVS Health were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Pzena Investment Management LLC increased its holdings in CVS Health by 132.9% during the 2nd 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. Capital International Investors grew its position in CVS Health by 12.5% in the 1st 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 World Investors increased its stake in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of CVS Health in the 1st quarter worth approximately $110,816,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 5.2 %

CVS opened at $60.34 on Friday. 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 one year low of $52.77 and a one year high of $83.25. The firm has a market capitalization of $75.75 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company has a fifty day moving average price of $59.80 and a 200-day moving average price of $60.53.

CVS Health (NYSE:CVS) last announced its 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. 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 EPS. Equities research analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Truist Financial lifted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.26.

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.