Linscomb Wealth Inc. Decreases Holdings in CVS Health Co. (NYSE:CVS)

Linscomb Wealth Inc. decreased its holdings in CVS Health Co. (NYSE:CVS) by 17.4% in the third quarter, Holdings Channel.com reports. The firm owned 4,754 shares of the pharmacy operator’s stock after selling 1,002 shares during the period. Linscomb Wealth Inc.’s holdings in CVS Health were worth $299,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. boosted its position in CVS Health by 33.3% during the third quarter. Valley Wealth Managers Inc. now owns 65,027 shares of the pharmacy operator’s stock valued at $4,089,000 after buying an additional 16,232 shares during the period. Empowered Funds LLC boosted its holdings in CVS Health by 52.5% during the 3rd quarter. Empowered Funds LLC now owns 209,682 shares of the pharmacy operator’s stock valued at $13,185,000 after acquiring an additional 72,228 shares during the period. Empirical Finance LLC grew its position in CVS Health by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 44,629 shares of the pharmacy operator’s stock worth $2,806,000 after acquiring an additional 939 shares during the last quarter. Royce & Associates LP increased its stake in CVS Health by 2.4% in the 3rd quarter. Royce & Associates LP now owns 87,000 shares of the pharmacy operator’s stock worth $5,471,000 after purchasing an additional 2,000 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in CVS Health by 7.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,660 shares of the pharmacy operator’s stock valued at $2,117,000 after purchasing an additional 2,472 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $53.19 on Friday. The firm has a market capitalization of $66.93 billion, a PE ratio of 13.50, a P/E/G ratio of 0.93 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average price of $59.23 and a 200-day moving average price of $58.72. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 5.00%. CVS Health’s payout ratio is 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several analyst reports. Wells Fargo & Company decreased their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Barclays lowered their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group raised their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Truist Financial boosted their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.44.

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.