Mizuho Securities USA LLC Trims Holdings in CVS Health Co. (NYSE:CVS)

Mizuho Securities USA LLC reduced its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,573 shares of the pharmacy operator's stock after selling 15,225 shares during the quarter. Mizuho Securities USA LLC's holdings in CVS Health were worth $5,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC increased its holdings in CVS Health by 127.5% during the 1st quarter. EntryPoint Capital LLC now owns 1,397 shares of the pharmacy operator's stock worth $111,000 after purchasing an additional 783 shares in the last quarter. CreativeOne Wealth LLC raised its position in CVS Health by 21.8% in the 1st quarter. CreativeOne Wealth LLC now owns 9,414 shares of the pharmacy operator's stock valued at $750,000 after buying an additional 1,688 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in CVS Health by 24.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 26,996 shares of the pharmacy operator's stock valued at $2,153,000 after acquiring an additional 5,229 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in CVS Health by 2.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,475,830 shares of the pharmacy operator's stock worth $117,712,000 after acquiring an additional 37,404 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of CVS Health by 8.8% in the first quarter. Epoch Investment Partners Inc. now owns 2,150,505 shares of the pharmacy operator's stock valued at $171,524,000 after purchasing an additional 174,015 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.91 during trading hours on Friday, reaching $58.01. 10,428,506 shares of the stock traded hands, compared to its average volume of 11,356,283. The company's 50-day simple moving average is $59.21 and its two-hundred day simple moving average is $58.59. The company has a market capitalization of $73.00 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.94 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 quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping 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 business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts forecast that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is presently 67.51%.

Analyst Ratings Changes

CVS has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Truist Financial reaffirmed a "buy" rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a report on Wednesday. Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $72.28.

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.