BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 31,582 Shares of CVS Health Co. (NYSE:CVS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in CVS Health Co. (NYSE:CVS - Free Report) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,474 shares of the pharmacy operator's stock after selling 31,582 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in CVS Health were worth $13,172,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CVS. Transcend Capital Advisors LLC boosted its stake in CVS Health by 27.1% during the 2nd quarter. Transcend Capital Advisors LLC now owns 22,639 shares of the pharmacy operator's stock valued at $1,337,000 after purchasing an additional 4,826 shares during the last quarter. Park Place Capital Corp raised its position in CVS Health by 18.1% in the 2nd quarter. Park Place Capital Corp now owns 2,033 shares of the pharmacy operator's stock worth $120,000 after buying an additional 311 shares during the last quarter. GAMMA Investing LLC lifted its stake in CVS Health by 7.5% during the 2nd quarter. GAMMA Investing LLC now owns 9,032 shares of the pharmacy operator's stock valued at $533,000 after acquiring an additional 628 shares during the period. Marcum Wealth LLC boosted its holdings in shares of CVS Health by 15.0% during the 2nd quarter. Marcum Wealth LLC now owns 7,931 shares of the pharmacy operator's stock valued at $468,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Moody National Bank Trust Division grew its stake in shares of CVS Health by 1.0% in the second quarter. Moody National Bank Trust Division now owns 22,487 shares of the pharmacy operator's stock worth $1,328,000 after acquiring an additional 219 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE CVS traded down $0.11 during mid-day trading on Friday, reaching $59.85. The company's stock had a trading volume of 3,947,743 shares, compared to its average volume of 12,709,454. The stock has a fifty day moving average of $59.36 and a two-hundred day moving average of $58.77. The firm has a market capitalization of $75.32 billion, a PE ratio of 15.19, a P/E/G ratio of 1.02 and a beta of 0.55. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS - Get Free Report) last released 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 net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. During the same quarter last year, the business posted $2.21 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.37 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. Finally, Truist Financial reiterated a "buy" rating and issued a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.