Moran Wealth Management LLC Cuts Holdings in CVS Health Co. (NYSE:CVS)

Moran Wealth Management LLC lessened its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 77.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,205 shares of the pharmacy operator's stock after selling 128,902 shares during the quarter. Moran Wealth Management LLC's holdings in CVS Health were worth $2,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Pzena Investment Management LLC grew its position in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator's stock worth $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator's stock worth $555,406,000 after purchasing an additional 389,166 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of CVS Health by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator's stock worth $310,722,000 after purchasing an additional 1,327,855 shares during the last quarter. National Pension Service lifted its stake in shares of CVS Health by 17.4% during the 3rd quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator's stock worth $178,793,000 after purchasing an additional 421,416 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of CVS Health by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator's stock worth $143,890,000 after purchasing an additional 57,214 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

CVS traded up $0.91 during trading on Friday, hitting $58.01. The company's stock had a trading volume of 10,428,506 shares, compared to its average volume of 11,356,283. 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 twelve month low of $52.71 and a twelve month high of $83.25. The business's fifty day simple moving average is $59.20 and its 200 day simple moving average is $58.60. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. On average, equities research analysts forecast that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on CVS. Barclays decreased their price objective on CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada decreased their price target on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a "hold" rating for the company in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. One equities research 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's stock. Based on data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average price target of $72.28.

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.