CVS Health Co. (NYSE:CVS) Stock Position Trimmed by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 10.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,591 shares of the pharmacy operator’s stock after selling 662 shares during the period. Brown Brothers Harriman & Co.’s holdings in CVS Health were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after purchasing an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after acquiring an additional 1,327,855 shares in the last quarter. National Pension Service increased its stake in shares of CVS Health by 17.4% during the third quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock valued at $178,793,000 after acquiring an additional 421,416 shares during the period. Finally, Bank of Montreal Can raised its holdings in CVS Health by 2.4% during the second 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 in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVS. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial reissued a “buy” rating and issued a $67.00 price target (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, UBS Group increased their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Trading Up 1.6 %

NYSE CVS opened at $59.96 on Thursday. The company has a market capitalization of $75.45 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm’s fifty day simple moving average is $59.30 and its 200-day simple moving average is $58.72.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during 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% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.43 earnings per share 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 dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. CVS Health’s dividend payout ratio (DPR) is 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.