CVS Health Co. (NYSE:CVS) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 14.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,454 shares of the pharmacy operator’s stock after selling 1,386 shares during the period. Confluence Wealth Services Inc.’s holdings in CVS Health were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Capital International Investors boosted its position in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital Research Global Investors increased its holdings in CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after acquiring an additional 184,297 shares in the last quarter. Pzena Investment Management LLC raised its position in 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 acquiring an additional 7,382,931 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of CVS Health by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after purchasing an additional 389,166 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Mizuho cut their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $73.17.

CVS Health Price Performance

Shares of NYSE CVS opened at $55.81 on Monday. The business has a 50 day moving average price of $59.66 and a two-hundred day moving average price of $59.49. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market cap of $70.21 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) 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 firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 earnings per share. Sell-side analysts expect that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.77%. CVS Health’s dividend payout ratio (DPR) is 47.33%.

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.