Goelzer Investment Management Inc. Sells 5,020 Shares of CVS Health Co. (NYSE:CVS)

Goelzer Investment Management Inc. trimmed its stake in CVS Health Co. (NYSE:CVS) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,948 shares of the pharmacy operator’s stock after selling 5,020 shares during the period. Goelzer Investment Management Inc.’s holdings in CVS Health were worth $4,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in CVS Health by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after purchasing an additional 533,659 shares during the period. Capital World Investors raised its holdings in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. Capital International Investors lifted its stake in CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital Research Global Investors grew its holdings in CVS Health by 1.4% during 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 acquiring an additional 184,297 shares in the last quarter. Finally, Pzena Investment Management LLC increased its position in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

NYSE:CVS traded up $1.67 during midday trading on Friday, hitting $64.59. The company’s stock had a trading volume of 16,313,877 shares, compared to its average volume of 11,032,696. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. 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 $81.08 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.81 and a beta of 0.54. The firm’s 50 day moving average is $58.60 and its 200-day moving average is $61.58.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 earnings per share. Equities analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.12%. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Wells Fargo & Company increased 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. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday. 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 note on Friday. Finally, Barclays decreased their price target on shares of 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. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.40.

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.