Lowe Brockenbrough & Co. Inc. Has $3.52 Million Holdings in CVS Health Co. (NYSE:CVS)

Lowe Brockenbrough & Co. Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 42.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 55,896 shares of the pharmacy operator’s stock after selling 40,451 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in CVS Health were worth $3,515,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norden Group LLC grew its holdings in shares of CVS Health by 10.7% during the first quarter. Norden Group LLC now owns 6,830 shares of the pharmacy operator’s stock valued at $545,000 after buying an additional 660 shares in the last quarter. Mission Wealth Management LP grew its stake in CVS Health by 70.9% during the 1st quarter. Mission Wealth Management LP now owns 11,321 shares of the pharmacy operator’s stock valued at $903,000 after acquiring an additional 4,696 shares in the last quarter. Prosperity Consulting Group LLC lifted its position in shares of CVS Health by 17.3% in the first quarter. Prosperity Consulting Group LLC now owns 4,331 shares of the pharmacy operator’s stock worth $345,000 after purchasing an additional 638 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CVS Health by 3.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 344,490 shares of the pharmacy operator’s stock worth $26,047,000 after purchasing an additional 11,904 shares during the period. Finally, PDS Planning Inc grew its position in CVS Health by 12.4% during the first quarter. PDS Planning Inc now owns 3,984 shares of the pharmacy operator’s stock valued at $318,000 after purchasing an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVS shares. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Truist Financial lifted their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Wells Fargo & Company increased their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Price Performance

Shares of CVS Health stock opened at $55.81 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 $70.21 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.54. The firm has a fifty day moving average price of $59.66 and a two-hundred day moving average price of $59.62. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

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. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $2.21 earnings per share. Analysts expect that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Announces Dividend

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