Caprock Group LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Caprock Group LLC decreased its stake in CVS Health Co. (NYSE:CVS) by 3.2% in the 3rd quarter, Holdings Channel reports. The firm owned 36,628 shares of the pharmacy operator’s stock after selling 1,194 shares during the quarter. Caprock Group LLC’s holdings in CVS Health were worth $2,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new position in CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health in the third quarter valued at $32,000. First Community Trust NA increased its position in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $66.00 in a research note on Monday. 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. Finally, Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.78.

CVS Health Stock Performance

Shares of CVS stock opened at $55.82 on Wednesday. The firm has a market capitalization of $70.24 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a 50 day moving average price of $59.18 and a 200 day moving average price of $58.60. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. 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 (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the company posted $2.21 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

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.