Resonant Capital Advisors LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Resonant Capital Advisors LLC lowered its stake in CVS Health Co. (NYSE:CVS) by 25.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,884 shares of the pharmacy operator’s stock after selling 10,680 shares during the period. Resonant Capital Advisors LLC’s holdings in CVS Health were worth $2,005,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Capital World Investors increased its holdings in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares during the period. Capital International Investors increased its holdings in CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital Research Global Investors increased its holdings in CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the period. Pzena Investment Management LLC increased 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 valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after purchasing an additional 389,166 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVS. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Truist Financial boosted their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Stock Performance

Shares of CVS opened at $60.34 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average price is $59.80 and its 200-day moving average price is $60.53. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market cap of $75.75 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. Equities research analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.41%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.