CVS Health Co. (NYSE:CVS) Shares Sold by Addison Capital Co

Addison Capital Co cut its stake in CVS Health Co. (NYSE:CVS) by 26.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,333 shares of the pharmacy operator’s stock after selling 6,236 shares during the period. Addison Capital Co’s holdings in CVS Health were worth $1,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in CVS Health by 16.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,307 shares of the pharmacy operator’s stock worth $10,646,000 after acquiring an additional 24,472 shares during the last quarter. Secure Asset Management LLC raised its stake in shares of CVS Health by 38.4% in the third quarter. Secure Asset Management LLC now owns 29,247 shares of the pharmacy operator’s stock worth $1,839,000 after purchasing an additional 8,121 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of CVS Health during the third quarter worth about $101,000. LaFleur & Godfrey LLC purchased a new stake in CVS Health in the third quarter valued at approximately $203,000. Finally, Sumitomo Life Insurance Co. boosted its position in CVS Health by 3.0% in the third quarter. Sumitomo Life Insurance Co. now owns 17,692 shares of the pharmacy operator’s stock valued at $1,112,000 after buying an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 6.6 %

Shares of CVS stock opened at $59.49 on Friday. 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 company has a market cap of $74.68 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.93 and a beta of 0.54. The stock has a 50 day simple moving average of $59.73 and a 200-day simple moving average of $60.75. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results 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. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the prior year, the company posted $2.21 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.47%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CVS shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a 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 currently has an average rating of “Moderate Buy” and a consensus price target of $75.26.

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.