Souders Financial Advisors Trims Holdings in CVS Health Co. (NYSE:CVS)

Souders Financial Advisors reduced its stake in CVS Health Co. (NYSE:CVS) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,191 shares of the pharmacy operator’s stock after selling 368 shares during the quarter. Souders Financial Advisors’ holdings in CVS Health were worth $264,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Empower Advisory Group LLC raised its position in shares of CVS Health by 11.5% during the 3rd quarter. Empower Advisory Group LLC now owns 973,078 shares of the pharmacy operator’s stock valued at $61,187,000 after buying an additional 100,093 shares during the period. Aptus Capital Advisors LLC lifted its stake in shares of CVS Health by 7.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 12,078 shares of the pharmacy operator’s stock valued at $759,000 after purchasing an additional 865 shares during the last quarter. Missouri Trust & Investment Co grew its holdings in shares of CVS Health by 14.9% during the 3rd quarter. Missouri Trust & Investment Co now owns 27,073 shares of the pharmacy operator’s stock worth $1,702,000 after purchasing an additional 3,501 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of CVS Health by 10.9% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 17,760 shares of the pharmacy operator’s stock worth $1,048,000 after purchasing an additional 1,745 shares during the last quarter. Finally, Patron Partners LLC acquired a new position in CVS Health in the third quarter valued at about $212,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. 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. Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Truist Financial increased their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, TD Cowen raised 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 report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Stock Down 3.2 %

Shares of NYSE CVS opened at $54.04 on Wednesday. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market capitalization of $68.00 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 0.97 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business has a 50-day moving average of $59.47 and a two-hundred day moving average of $58.88.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that CVS Health Co. will post 5.44 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.92%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.