CVS Health Co. (NYSE:CVS) Shares Sold by Greenleaf Trust

Greenleaf Trust lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 10.9% in the 3rd quarter, Holdings Channel reports. The firm owned 23,401 shares of the pharmacy operator’s stock after selling 2,874 shares during the period. Greenleaf Trust’s holdings in CVS Health were worth $1,471,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in CVS Health by 33.2% in the 4th quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock valued at $17,295,000 after acquiring an additional 54,616 shares during the last quarter. Atlas Capital Advisors LLC raised its holdings in CVS Health by 20.2% in the 1st quarter. Atlas Capital Advisors LLC now owns 5,101 shares of the pharmacy operator’s stock valued at $407,000 after acquiring an additional 858 shares during the last quarter. Brookstone Capital Management raised its holdings in CVS Health by 3.3% in the 1st quarter. Brookstone Capital Management now owns 65,157 shares of the pharmacy operator’s stock valued at $5,197,000 after acquiring an additional 2,054 shares during the last quarter. Janiczek Wealth Management LLC raised its holdings in CVS Health by 38.6% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,755 shares of the pharmacy operator’s stock valued at $140,000 after acquiring an additional 489 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in CVS Health by 0.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 202,838 shares of the pharmacy operator’s stock valued at $16,178,000 after acquiring an additional 823 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CVS. Truist Financial increased their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. 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 note on Monday, August 12th. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.89.

CVS Health Stock Performance

Shares of CVS stock opened at $56.78 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market capitalization of $71.28 billion, a PE ratio of 9.98, a P/E/G ratio of 0.93 and a beta of 0.54. The firm has a 50 day moving average of $59.88 and a two-hundred day moving average of $60.17.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $91.41 billion. During the same quarter last year, the company posted $2.21 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. CVS Health’s payout ratio is 46.75%.

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.