Petra Financial Advisors Inc. Sells 236 Shares of CVS Health Co. (NYSE:CVS)

Petra Financial Advisors Inc. lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,145 shares of the pharmacy operator’s stock after selling 236 shares during the quarter. Petra Financial Advisors Inc.’s holdings in CVS Health were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Pzena Investment Management LLC grew its holdings 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 last quarter. Capital International Investors lifted its holdings in CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital World Investors boosted its position 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 valued at $3,491,643,000 after buying an additional 3,232,172 shares during the period. Pathway Financial Advisers LLC increased its position in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the period. Finally, State of Michigan Retirement System raised its position in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 0.2 %

CVS traded down $0.13 on Thursday, hitting $56.26. The company had a trading volume of 1,208,001 shares, compared to its average volume of 11,133,376. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The firm has a market cap of $70.77 billion, a P/E ratio of 7.68, a PEG ratio of 0.84 and a beta of 0.54. The company’s fifty day moving average price is $59.73 and its 200 day moving average price is $59.67. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 6.41 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared 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 4.73%. CVS Health’s dividend payout ratio is presently 47.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $74.58.

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.