HighTower Advisors LLC Sells 66,665 Shares of CVS Health Co. (NYSE:CVS)

HighTower Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 399,897 shares of the pharmacy operator’s stock after selling 66,665 shares during the period. HighTower Advisors LLC’s holdings in CVS Health were worth $25,157,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVS. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. TOMS Capital Investment Management LP bought a new position in shares of CVS Health in the 3rd quarter valued at $121,987,000. Pathway Financial Advisers LLC increased its holdings in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. State of Michigan Retirement System grew its position in shares of CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after buying an additional 1,606,500 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position 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 valued at $310,722,000 after purchasing an additional 1,327,855 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CVS shares. Truist Financial reissued a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Barclays cut their price objective 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. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday. Finally, UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Stock Down 2.0 %

Shares of NYSE CVS opened at $56.88 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The stock has a market capitalization of $71.58 billion, a PE ratio of 14.44, a P/E/G ratio of 1.01 and a beta of 0.54. The business’s fifty day moving average price is $59.39 and its 200-day moving average price is $58.79.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) 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 analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Co. will post 5.37 EPS for the current 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 issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. CVS Health’s payout ratio is 67.51%.

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.