Great Valley Advisor Group Inc. Sells 3,597 Shares of CVS Health Co. (NYSE:CVS)

Great Valley Advisor Group Inc. trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 33.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,134 shares of the pharmacy operator’s stock after selling 3,597 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in CVS Health were worth $449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pzena Investment Management LLC lifted its holdings in CVS Health by 132.9% during 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 last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of CVS Health by 402.5% in 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 acquiring an additional 1,606,500 shares during the period. Swedbank AB acquired a new position in shares of CVS Health in the first quarter valued at about $110,816,000. Finally, AQR Capital Management LLC increased its position in CVS Health by 33.5% during 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 during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada dropped 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 report on Friday, November 15th. UBS Group raised their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Mizuho lowered their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Stock Performance

NYSE CVS opened at $59.02 on Wednesday. The company has a market cap of $74.27 billion, a P/E ratio of 14.98, a PEG ratio of 0.98 and a beta of 0.55. The company has a fifty day simple moving average of $59.26 and a 200 day simple moving average of $58.69. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) 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 firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the company earned $2.21 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.51%. CVS Health’s dividend payout ratio is presently 67.51%.

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.