Cetera Investment Advisers Has $22.03 Million Holdings in CVS Health Co. (NYSE:CVS)

Cetera Investment Advisers trimmed its position in CVS Health Co. (NYSE:CVS) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 372,970 shares of the pharmacy operator’s stock after selling 34,874 shares during the period. Cetera Investment Advisers’ holdings in CVS Health were worth $22,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the 4th quarter worth approximately $32,000. First Community Trust NA grew its position in CVS Health by 116.2% in the second 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 in the last quarter. Creekmur Asset Management LLC acquired a new stake in CVS Health in the 4th quarter valued at $34,000. Steph & Co. boosted its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 1.1 %

CVS stock opened at $62.92 on Friday. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company’s 50-day simple moving average is $58.52 and its 200 day simple moving average is $61.67. The company has a market capitalization of $78.99 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating 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 net margin of 1.98% and a return on equity of 12.72%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. As a group, sell-side analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays reduced their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Evercore ISI decreased their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.