BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $14.24 Million Stake in CVS Health Co. (NYSE:CVS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 68.8% during the second quarter, HoldingsChannel reports. The firm owned 241,056 shares of the pharmacy operator’s stock after selling 532,122 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CVS Health were worth $14,237,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Gryphon Financial Partners LLC lifted its stake in CVS Health by 48.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after acquiring an additional 2,653 shares during the last quarter. Congress Wealth Management LLC DE lifted its stake in CVS Health by 126.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,827 shares of the pharmacy operator’s stock valued at $539,000 after purchasing an additional 3,806 shares during the last quarter. Parallel Advisors LLC grew its holdings in CVS Health by 18.2% during the fourth quarter. Parallel Advisors LLC now owns 24,257 shares of the pharmacy operator’s stock worth $1,915,000 after purchasing an additional 3,732 shares during the period. Mitchell Sinkler & Starr PA increased its position in CVS Health by 7.0% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 6,229 shares of the pharmacy operator’s stock worth $492,000 after buying an additional 410 shares during the last quarter. Finally, United Services Automobile Association raised its stake in CVS Health by 5.5% in the fourth quarter. United Services Automobile Association now owns 38,141 shares of the pharmacy operator’s stock valued at $3,012,000 after buying an additional 1,994 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVS shares. Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company increased their price objective on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Robert W. Baird initiated coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.10.

CVS Health Price Performance

CVS stock opened at $58.11 on Wednesday. The company’s 50-day moving average price is $58.24 and its two-hundred day moving average price is $62.20. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market cap of $73.10 billion, a P/E ratio of 10.21, a P/E/G ratio of 0.81 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. On average, analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.58%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.