Fifth Third Wealth Advisors LLC Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Fifth Third Wealth Advisors LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,547 shares of the pharmacy operator’s stock after selling 629 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in CVS Health were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Pathway Financial Advisers LLC raised its holdings in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the period. State of Michigan Retirement System lifted its position in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Swedbank AB purchased a new stake in CVS Health during the first quarter worth approximately $110,816,000. Finally, AQR Capital Management LLC increased its position in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after acquiring an additional 1,327,855 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS Health stock opened at $56.83 on Thursday. The company has a market cap of $71.52 billion, a PE ratio of 14.42, a P/E/G ratio of 0.92 and a beta of 0.55. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The company has a fifty day moving average price of $59.18 and a two-hundred day moving average price of $58.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts expect that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

A number of analysts recently weighed in on CVS shares. 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. Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Mizuho reduced their price target on 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 lowered their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.28.

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.