CVS Health Co. (NYSE:CVS) Shares Sold by Wallington Asset Management LLC

Wallington Asset Management LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 113,900 shares of the pharmacy operator’s stock after selling 2,575 shares during the quarter. Wallington Asset Management LLC’s holdings in CVS Health were worth $7,162,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CVS. Wellington Management Group LLP boosted its stake in shares of CVS Health by 33.2% in the fourth quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock worth $17,295,000 after buying an additional 54,616 shares during the last quarter. Atlas Capital Advisors LLC boosted its stake in shares of CVS Health by 20.2% in the first quarter. Atlas Capital Advisors LLC now owns 5,101 shares of the pharmacy operator’s stock worth $407,000 after buying an additional 858 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of CVS Health by 3.3% in the first quarter. Brookstone Capital Management now owns 65,157 shares of the pharmacy operator’s stock worth $5,197,000 after buying an additional 2,054 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of CVS Health by 38.6% in the first quarter. Janiczek Wealth Management LLC now owns 1,755 shares of the pharmacy operator’s stock worth $140,000 after buying an additional 489 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of CVS Health by 0.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 202,838 shares of the pharmacy operator’s stock worth $16,178,000 after buying an additional 823 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CVS shares. Barclays reduced their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Evercore ISI upped 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.89.

CVS Health Price Performance

NYSE:CVS opened at $56.78 on Thursday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock has a market cap of $71.28 billion, a PE ratio of 9.98, a P/E/G ratio of 0.93 and a beta of 0.54. The stock has a 50 day moving average price of $59.88 and a 200 day moving average price of $60.17.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 earnings per share. Equities research analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.68%. CVS Health’s payout ratio is 46.75%.

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.