Garland Capital Management Inc. Reduces Stake in CVS Health Co. (NYSE:CVS)

Garland Capital Management Inc. cut its stake in shares of CVS Health Co. (NYSE:CVS) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,790 shares of the pharmacy operator’s stock after selling 6,020 shares during the period. CVS Health accounts for approximately 2.6% of Garland Capital Management Inc.’s portfolio, making the stock its 25th largest holding. Garland Capital Management Inc.’s holdings in CVS Health were worth $3,445,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pzena Investment Management LLC boosted its holdings in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. Capital International Investors boosted its stake in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after buying an additional 4,226,225 shares during the period. Capital World Investors increased its stake in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial lifted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Finally, Barclays cut their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $73.11.

CVS Health Trading Up 0.5 %

Shares of NYSE:CVS traded up $0.29 on Tuesday, hitting $54.94. The company had a trading volume of 1,554,535 shares, compared to its average volume of 11,131,688. 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 Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The firm’s 50-day simple moving average is $59.58 and its two-hundred day simple moving average is $59.39. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 0.82 and a beta of 0.55.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.84%. The ex-dividend date was Monday, October 21st. 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.