Vestcor Inc Sells 19,772 Shares of CVS Health Co. (NYSE:CVS)

Vestcor Inc trimmed its position in CVS Health Co. (NYSE:CVS) by 45.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,142 shares of the pharmacy operator’s stock after selling 19,772 shares during the quarter. Vestcor Inc’s holdings in CVS Health were worth $1,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its holdings in shares of CVS Health by 132.9% during the second 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. Hotchkis & Wiley Capital Management LLC raised its position in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. State Street Corp lifted its holdings in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP purchased a new position in shares of CVS Health during the third quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC lifted its position in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 6.1 %

CVS Health stock opened at $51.77 on Thursday. CVS Health Co. has a one year low of $51.73 and a one year high of $83.25. The business’s fifty day moving average is $59.05 and its 200 day moving average is $58.77. The stock has a market capitalization of $65.14 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.95 and a beta of 0.54. 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 results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. On average, sell-side analysts predict that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.14%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research reports. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. UBS Group raised their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating 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 note on Thursday, October 24th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $70.50.

About CVS Health

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.