Bard Financial Services Inc. Sells 5,868 Shares of CVS Health Co. (NYSE:CVS)

Bard Financial Services Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 3.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,557 shares of the pharmacy operator’s stock after selling 5,868 shares during the period. CVS Health accounts for about 1.2% of Bard Financial Services Inc.’s portfolio, making the stock its 22nd largest position. Bard Financial Services Inc.’s holdings in CVS Health were worth $9,907,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Assetmark Inc. boosted its stake in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares in the last quarter. Cullinan Associates Inc. boosted its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in CVS Health in the 2nd quarter worth approximately $57,584,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in CVS Health by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after purchasing an additional 24,285 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

CVS Health stock opened at $55.00 on Wednesday. CVS Health Co. has a 1 year low of $52.71 and a 1 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. The company’s fifty day moving average price is $59.21 and its 200 day moving average price is $58.78. The stock has a market capitalization of $69.21 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.95 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 yield of 4.84%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Barclays reduced their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

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.