FMR LLC reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,327,041 shares of the pharmacy operator's stock after selling 1,044,903 shares during the quarter. FMR LLC owned about 2.25% of CVS Health worth $1,781,204,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in CVS Health in the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health during the 3rd quarter valued at $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the 3rd quarter worth $33,000. Finally, First Community Trust NA lifted its holdings in shares of 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 in the last quarter. Institutional investors own 80.66% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. StockNews.com cut shares of CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. Evercore ISI boosted their target price 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, Truist Financial restated a "buy" rating and issued a $67.00 price target (down 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 assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average price target of $70.33.
Read Our Latest Report on CVS
CVS Health Price Performance
Shares of CVS traded up $0.95 during trading hours on Wednesday, reaching $59.96. 7,596,294 shares of the stock traded hands, compared to its average volume of 11,346,436. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a market cap of $75.45 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The company's 50-day moving average price is $59.30 and its two-hundred day moving average price is $58.72.
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 for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current year.
CVS Health Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is presently 67.51%.
CVS Health Profile
(
Free Report)
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.
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