J.W. Cole Advisors Inc. Sells 370 Shares of CVS Health Co. (NYSE:CVS)

J.W. Cole Advisors Inc. trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 5.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,671 shares of the pharmacy operator’s stock after selling 370 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in CVS Health were worth $419,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVS. Capital World Investors increased its stake in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Capital International Investors raised its stake in CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares during the period. Capital Research Global Investors boosted its holdings in CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after acquiring an additional 184,297 shares in the last quarter. Pzena Investment Management LLC grew its stake in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of CVS Health by 5.9% during the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after acquiring an additional 389,166 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CVS shares. Barclays reduced 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. Truist Financial lifted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Mizuho dropped their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Stock Performance

NYSE:CVS opened at $56.46 on Friday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. 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 business has a fifty day simple moving average of $59.70 and a two-hundred day simple moving average of $59.65. The company has a market capitalization of $71.03 billion, a P/E ratio of 10.05, a P/E/G ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 EPS. On average, analysts expect that CVS Health Co. will post 6.41 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. CVS Health’s payout ratio is 47.33%.

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.