Old North State Wealth Management LLC Has $4.52 Million Stake in CVS Health Co. (NYSE:CVS)

Old North State Wealth Management LLC decreased its position in CVS Health Co. (NYSE:CVS) by 26.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 71,855 shares of the pharmacy operator’s stock after selling 25,261 shares during the period. CVS Health comprises about 2.5% of Old North State Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Old North State Wealth Management LLC’s holdings in CVS Health were worth $4,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Norden Group LLC lifted its position in CVS Health by 10.7% in the 1st quarter. Norden Group LLC now owns 6,830 shares of the pharmacy operator’s stock worth $545,000 after buying an additional 660 shares in the last quarter. First Command Advisory Services Inc. raised its holdings in shares of CVS Health by 26.0% during the 1st quarter. First Command Advisory Services Inc. now owns 1,217 shares of the pharmacy operator’s stock valued at $96,000 after purchasing an additional 251 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of CVS Health by 30.2% during the 1st quarter. Mutual Advisors LLC now owns 43,704 shares of the pharmacy operator’s stock valued at $3,486,000 after purchasing an additional 10,133 shares in the last quarter. CapWealth Advisors LLC raised its holdings in shares of CVS Health by 0.7% during the 1st quarter. CapWealth Advisors LLC now owns 321,226 shares of the pharmacy operator’s stock valued at $25,621,000 after purchasing an additional 2,089 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of CVS Health by 0.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 319,532 shares of the pharmacy operator’s stock valued at $25,486,000 after purchasing an additional 1,050 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 1.2 %

NYSE CVS opened at $55.81 on Monday. The stock has a fifty day moving average of $59.66 and a 200-day moving average of $59.49. The stock has a market capitalization of $70.21 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. On average, equities research analysts forecast that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. 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 4.77%. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVS. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Barclays lowered their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Truist Financial raised their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.17.

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.