Good Life Advisors LLC Sells 1,077 Shares of CVS Health Co. (NYSE:CVS)

Good Life Advisors LLC lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 17.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,105 shares of the pharmacy operator’s stock after selling 1,077 shares during the period. Good Life Advisors LLC’s holdings in CVS Health were worth $321,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Deerfield Management Company L.P. Series C purchased a new position in shares of CVS Health during the second quarter valued at $57,584,000. CX Institutional grew its holdings in CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after acquiring an additional 65,259 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position 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 purchasing an additional 145,158 shares during the period. Steph & Co. raised its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. Finally, First Hawaiian Bank lifted its position in shares of CVS Health by 30.1% in the 2nd quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after purchasing an additional 23,213 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 5.2 %

CVS stock opened at $60.34 on Friday. 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’s fifty day simple moving average is $59.80 and its 200-day simple moving average is $60.53. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market capitalization of $75.75 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.

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

CVS Health Dividend Announcement

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 is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.41%. CVS Health’s dividend payout ratio is presently 46.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVS. Truist Financial upped their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI raised their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health presently has an average 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.