Hartford Financial Management Inc. Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Hartford Financial Management Inc. trimmed its position in CVS Health Co. (NYSE:CVS) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,597 shares of the pharmacy operator’s stock after selling 368 shares during the period. Hartford Financial Management Inc.’s holdings in CVS Health were worth $2,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Norden Group LLC grew its stake in CVS Health by 10.7% in the first quarter. Norden Group LLC now owns 6,830 shares of the pharmacy operator’s stock worth $545,000 after purchasing an additional 660 shares during the period. Mission Wealth Management LP grew its stake in shares of CVS Health by 70.9% in the first quarter. Mission Wealth Management LP now owns 11,321 shares of the pharmacy operator’s stock worth $903,000 after acquiring an additional 4,696 shares during the last quarter. Prosperity Consulting Group LLC grew its stake in shares of CVS Health by 17.3% in the first quarter. Prosperity Consulting Group LLC now owns 4,331 shares of the pharmacy operator’s stock worth $345,000 after acquiring an additional 638 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CVS Health by 3.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 344,490 shares of the pharmacy operator’s stock worth $26,047,000 after acquiring an additional 11,904 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its stake in shares of CVS Health by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 41,546 shares of the pharmacy operator’s stock worth $3,314,000 after acquiring an additional 385 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.1 %

CVS stock opened at $56.46 on Friday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market cap of $71.03 billion, a P/E ratio of 10.05, a PEG ratio of 0.83 and a beta of 0.54. The business’s 50-day moving average price is $59.70 and its 200-day moving average price is $59.65.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the previous year, the firm earned $2.21 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. CVS Health’s dividend payout ratio is presently 47.33%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Truist Financial increased their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

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.