Hartford Investment Management Co. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Hartford Investment Management Co. lessened its stake in CVS Health Co. (NYSE:CVS) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 79,047 shares of the pharmacy operator’s stock after selling 1,297 shares during the quarter. Hartford Investment Management Co.’s holdings in CVS Health were worth $4,970,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital World Investors increased its holdings in CVS Health by 8.0% in the 1st 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 increased its holdings in CVS Health by 12.5% in the 1st 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 increased its holdings in CVS Health by 1.4% in the 1st 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 increased its holdings in CVS Health by 132.9% in the 2nd 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 increased its holdings in CVS Health by 5.9% in the 1st 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.

Analysts Set New Price Targets

A number of research firms have issued reports on CVS. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Truist Financial lifted 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. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.89.

CVS Health Stock Down 0.1 %

Shares of CVS opened at $56.78 on Thursday. The stock has a market capitalization of $71.28 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The business’s 50 day simple moving average is $59.88 and its 200-day simple moving average is $60.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last released its earnings results 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 firm had revenue of $91.23 billion for 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%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. As a group, equities analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 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.