Farther Finance Advisors LLC Has $987,000 Position in CVS Health Co. (NYSE:CVS)

Farther Finance Advisors LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,710 shares of the pharmacy operator’s stock after selling 2,371 shares during the period. Farther Finance Advisors LLC’s holdings in CVS Health were worth $987,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new stake in CVS Health in the 3rd quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in CVS Health during the 3rd quarter worth $32,000. First Community Trust NA boosted its holdings in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the 3rd quarter worth $33,000. Finally, ORG Partners LLC boosted its holdings in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 592 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 2.1 %

Shares of CVS opened at $54.65 on Tuesday. The business’s 50-day moving average price is $59.58 and its 200-day moving average price is $59.39. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The stock has a market cap of $68.75 billion, a PE ratio of 9.72, a P/E/G ratio of 0.83 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating 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 firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 47.33%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVS shares. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Truist Financial lifted their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company lowered their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $73.11.

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.