NBC Securities Inc. Cuts Stock Position in CVS Health Co. (NYSE:CVS)

NBC Securities Inc. trimmed its holdings in CVS Health Co. (NYSE:CVS) by 35.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,535 shares of the pharmacy operator’s stock after selling 4,117 shares during the period. NBC Securities Inc.’s holdings in CVS Health were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new stake in CVS Health in the 2nd quarter worth $57,584,000. CX Institutional boosted its stake in CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after buying an additional 65,259 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after buying an additional 145,158 shares in the last quarter. Steph & Co. increased its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in shares of CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after acquiring an additional 16,840 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS stock opened at $63.67 on Friday. The stock has a market capitalization of $79.93 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 0.93 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The stock has a fifty day simple moving average of $59.73 and a two-hundred day simple moving average of $60.75.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.18%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Wells Fargo & Company raised their price objective on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.26.

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.