Carnegie Investment Counsel Sells 422 Shares of CVS Health Co. (NYSE:CVS)

Carnegie Investment Counsel trimmed its position in CVS Health Co. (NYSE:CVS) by 5.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,816 shares of the pharmacy operator’s stock after selling 422 shares during the period. Carnegie Investment Counsel’s holdings in CVS Health were worth $429,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Community Trust NA grew its position in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in CVS Health in the 4th quarter worth about $34,000. Steph & Co. grew its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. ORG Partners LLC grew its position in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its position in CVS Health by 71.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 247 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

NYSE CVS opened at $67.46 on Tuesday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The stock has a market capitalization of $84.69 billion, a PE ratio of 11.86, a P/E/G ratio of 0.93 and a beta of 0.54. The company’s 50 day simple moving average is $59.31 and its two-hundred day simple moving average is $60.81.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVS. Truist Financial increased their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Barclays raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $63.00 to $82.00 in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

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.