CVS Health Co. (NYSE:CVS) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 39.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 754,152 shares of the pharmacy operator's stock after selling 489,414 shares during the quarter. Bridgewater Associates LP owned about 0.06% of CVS Health worth $47,421,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVS. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health during the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter worth $32,000. First Community Trust NA lifted its position in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock valued at $33,000 after purchasing an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 1.3 %

NYSE:CVS traded up $0.76 during midday trading on Wednesday, reaching $59.77. The company had a trading volume of 5,583,936 shares, compared to its average volume of 11,336,732. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The firm has a market capitalization of $75.22 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.01 and a beta of 0.55. The stock's fifty day simple moving average is $59.26 and its 200-day simple moving average is $58.69.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. During the same period in the previous year, the company earned $2.21 earnings per share. CVS Health's quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.45%. CVS Health's dividend payout ratio is presently 67.51%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group lifted their price target on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $60.00 to $66.00 in a report on Monday, November 18th. Cantor Fitzgerald restated a "neutral" rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial reiterated a "buy" rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.33.

CVS Health 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.