Sigma Investment Counselors Inc. Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Sigma Investment Counselors Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 86.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,374 shares of the pharmacy operator’s stock after selling 26,921 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in CVS Health were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors lifted its position in CVS Health by 8.0% during 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 in the last quarter. Capital International Investors lifted its position in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital Research Global Investors lifted its position in CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after buying an additional 184,297 shares in the last quarter. Pzena Investment Management LLC lifted its position in 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 buying an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in CVS Health by 5.9% during the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after buying an additional 389,166 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Truist Financial lifted their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Barclays reduced their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Trading Up 0.7 %

CVS opened at $56.49 on Friday. The stock has a market capitalization of $71.06 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.84 and a beta of 0.54. 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 business has a fifty day moving average price of $59.85 and a 200 day moving average price of $60.14. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. Sell-side analysts expect that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 47.33%.

CVS Health 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.