Pekin Hardy Strauss Inc. Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Pekin Hardy Strauss Inc. trimmed its position in CVS Health Co. (NYSE:CVS) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,750 shares of the pharmacy operator’s stock after selling 1,065 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in CVS Health were worth $676,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CVS. Garland Capital Management Inc. boosted its holdings in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its position in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the period. Plimoth Trust Co. LLC raised its stake in shares of CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after buying an additional 174 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in shares of CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.6 %

Shares of CVS stock opened at $58.01 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a market cap of $73.00 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.98 and a beta of 0.55. The company’s 50-day moving average price is $59.21 and its 200-day moving average price is $58.63. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. As a group, equities analysts predict that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVS. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Evercore ISI raised their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $72.28.

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.