Everence Capital Management Inc. Cuts Position in CVS Health Co. (NYSE:CVS)

Everence Capital Management Inc. lowered its stake in CVS Health Co. (NYSE:CVS - Free Report) by 40.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,854 shares of the pharmacy operator's stock after selling 17,310 shares during the period. Everence Capital Management Inc.'s holdings in CVS Health were worth $1,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foundations Investment Advisors LLC grew its holdings in CVS Health by 9.4% in the second quarter. Foundations Investment Advisors LLC now owns 14,758 shares of the pharmacy operator's stock worth $872,000 after purchasing an additional 1,268 shares during the period. National Bank of Canada FI lifted its stake in CVS Health by 5.6% during the 2nd quarter. National Bank of Canada FI now owns 727,522 shares of the pharmacy operator's stock valued at $42,270,000 after acquiring an additional 38,686 shares in the last quarter. MCF Advisors LLC boosted its holdings in CVS Health by 29.2% during the 2nd quarter. MCF Advisors LLC now owns 2,981 shares of the pharmacy operator's stock worth $176,000 after acquiring an additional 673 shares during the last quarter. Altus Wealth Group LLC purchased a new stake in shares of CVS Health in the second quarter valued at about $309,000. Finally, Childress Capital Advisors LLC lifted its position in shares of CVS Health by 261.0% during the second quarter. Childress Capital Advisors LLC now owns 16,428 shares of the pharmacy operator's stock valued at $970,000 after purchasing an additional 11,877 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CVS. Deutsche Bank Aktiengesellschaft raised CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada decreased their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. 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 research note on Thursday, November 7th. Finally, UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.12.

CVS Health Price Performance

Shares of CVS Health stock traded up $1.55 on Friday, reaching $45.77. The stock had a trading volume of 12,190,802 shares, compared to its average volume of 11,408,451. The business's 50 day moving average is $52.84 and its two-hundred day moving average is $57.13. 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 1 year low of $43.56 and a 1 year high of $83.25. The company has a market cap of $57.60 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 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 during the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm earned $2.21 EPS. The business's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts anticipate that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 5.81%. CVS Health's payout ratio is 67.51%.

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.