White Pine Investment CO Trims Holdings in CVS Health Co. (NYSE:CVS)

White Pine Investment CO decreased its holdings in CVS Health Co. (NYSE:CVS) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,483 shares of the pharmacy operator’s stock after selling 1,726 shares during the period. CVS Health comprises approximately 1.8% of White Pine Investment CO’s holdings, making the stock its 23rd largest holding. White Pine Investment CO’s holdings in CVS Health were worth $6,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Capital World Investors grew its position in shares of CVS Health by 8.0% during 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 boosted its position in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital Research Global Investors boosted its position in CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares in the last quarter. Pzena Investment Management LLC boosted its position in CVS Health by 132.9% during the second 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 in the last quarter. Finally, Lazard Asset Management LLC boosted its position in CVS Health by 5.9% during the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after purchasing an additional 389,166 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 1.2 %

Shares of CVS stock opened at $55.81 on Friday. The stock has a 50 day moving average of $59.66 and a 200 day moving average of $59.56. 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 stock has a market cap of $70.21 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.83 and a beta of 0.55. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 47.33%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company raised their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Truist Financial raised their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

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.