CVS Health Co. (NYSE:CVS) Shares Sold by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,146 shares of the pharmacy operator’s stock after selling 342 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in CVS Health were worth $324,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital World Investors lifted its holdings in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares during the last quarter. Capital International Investors boosted its holdings in CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital Research Global Investors increased its stake in CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of CVS Health by 5.9% in the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after buying an additional 389,166 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVS shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Barclays cut their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.78.

CVS Health Price Performance

Shares of NYSE CVS opened at $56.08 on Tuesday. The firm has a 50-day moving average of $59.19 and a two-hundred day moving average of $58.60. The company has a market capitalization of $70.57 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.92 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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. The firm had revenue of $95.43 billion for 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 revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. As a group, analysts expect that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company 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. This represents a $2.66 annualized dividend and a yield of 4.74%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

CVS Health 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.