CVS Health Co. (NYSE:CVS) Shares Sold by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,146 shares of the pharmacy operator’s stock after selling 342 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in CVS Health were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in CVS Health during the 3rd quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter valued at $32,000. First Community Trust NA raised its stake in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth about $33,000. Finally, ORG Partners LLC boosted its stake in shares of CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday. UBS Group raised their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $66.00 in a research note on Monday. Finally, StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One 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, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.78.

CVS Health Stock Up 5.4 %

Shares of NYSE:CVS opened at $56.08 on Tuesday. The company has a market capitalization of $70.57 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a 50 day moving average of $59.19 and a two-hundred day moving average of $58.60. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business 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 was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. As a group, analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 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.