Free Trial

HighTower Advisors LLC Reduces Holdings in CVS Health Co. (NYSE:CVS)

CVS Health logo with Retail/Wholesale background

HighTower Advisors LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 14.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 399,897 shares of the pharmacy operator's stock after selling 66,665 shares during the period. HighTower Advisors LLC's holdings in CVS Health were worth $25,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. boosted its position in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator's stock worth $25,781,000 after purchasing an additional 36,132 shares in the last quarter. Cullinan Associates Inc. grew its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator's stock valued at $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Sompo Asset Management Co. Ltd. raised its position in CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator's stock worth $8,459,000 after acquiring an additional 10,453 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health in the second quarter valued at about $57,584,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of CVS Health by 5.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator's stock valued at $28,191,000 after purchasing an additional 24,285 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CVS. UBS Group increased their target price on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. StockNews.com downgraded shares of CVS Health from a "hold" rating to a "sell" rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target on the stock in a research note on Tuesday. Finally, Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

Read Our Latest Report on CVS Health

CVS Health Trading Down 2.8 %

CVS traded down $1.59 on Friday, reaching $55.27. 9,628,385 shares of the company's stock were exchanged, compared to its average volume of 11,275,057. The company has a market cap of $69.55 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.01 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The company's 50 day moving average is $59.39 and its 200-day moving average is $58.79.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS 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 business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the firm posted $2.21 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts predict that CVS Health Co. will post 5.37 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 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 dividend yield of 4.81%. CVS Health's dividend payout ratio (DPR) is currently 67.51%.

CVS Health Company 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.

See Also

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Should you invest $1,000 in CVS Health right now?

Before you consider CVS Health, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.

While CVS Health currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 "Recession Proof" Stocks That Will Thrive in Any Market Cover

Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Energy Stocks Are Poised for Explosive Growth in 2025
From Landfills to Profits: Opal Fuels CEO Shares How the Company Turns Trash into Cash
The Real Reason Tesla Stock Is Soaring – and Why Tech Expert Says It Won’t Stop

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines