Grimes & Company Inc. Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Grimes & Company Inc. reduced its stake in CVS Health Co. (NYSE:CVS) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,353 shares of the pharmacy operator’s stock after selling 783 shares during the quarter. Grimes & Company Inc.’s holdings in CVS Health were worth $17,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of CVS Health by 33.2% in the 4th quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock worth $17,295,000 after purchasing an additional 54,616 shares during the period. Atlas Capital Advisors LLC increased its holdings in CVS Health by 20.2% during the 1st quarter. Atlas Capital Advisors LLC now owns 5,101 shares of the pharmacy operator’s stock worth $407,000 after purchasing an additional 858 shares during the last quarter. Brookstone Capital Management increased its holdings in CVS Health by 3.3% during the 1st quarter. Brookstone Capital Management now owns 65,157 shares of the pharmacy operator’s stock worth $5,197,000 after purchasing an additional 2,054 shares during the last quarter. Janiczek Wealth Management LLC increased its holdings in shares of CVS Health by 38.6% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,755 shares of the pharmacy operator’s stock valued at $140,000 after acquiring an additional 489 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of CVS Health by 0.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 202,838 shares of the pharmacy operator’s stock valued at $16,178,000 after acquiring an additional 823 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Mizuho lowered 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. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial boosted their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Price Performance

Shares of CVS Health stock traded up $0.24 during trading on Thursday, hitting $57.02. The stock had a trading volume of 422,816 shares, compared to its average volume of 11,197,225. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The firm has a market cap of $71.58 billion, a P/E ratio of 9.98, a PEG ratio of 0.93 and a beta of 0.54. The business has a fifty day moving average of $59.88 and a two-hundred day moving average of $60.17. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, October 21st. 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.