CVS Health Co. (NYSE:CVS) Shares Sold by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,583 shares of the pharmacy operator’s stock after selling 4,268 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in CVS Health were worth $4,627,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Assetmark Inc. raised its position in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. Cullinan Associates Inc. increased its position in CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after buying an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in CVS Health in the second quarter worth $57,584,000. Oppenheimer Asset Management Inc. increased its position in CVS Health by 5.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after buying an additional 24,285 shares during the period. Finally, Sompo Asset Management Co. Ltd. increased its position in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after buying an additional 10,453 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 1.6 %

Shares of CVS stock opened at $58.01 on Monday. The stock has a 50-day simple moving average of $59.21 and a 200 day simple moving average of $58.63. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The stock has a market capitalization of $73.00 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating 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 business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the company posted $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Mizuho decreased their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Company 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.