Hartford Investment Management Co. Reduces Position in CVS Health Co. (NYSE:CVS)

Hartford Investment Management Co. trimmed its position in CVS Health Co. (NYSE:CVS) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,047 shares of the pharmacy operator’s stock after selling 1,297 shares during the quarter. Hartford Investment Management Co.’s holdings in CVS Health were worth $4,970,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the third quarter worth about $31,000. Crewe Advisors LLC bought a new position in shares of CVS Health in the first quarter worth approximately $40,000. Retirement Group LLC increased its position in shares of CVS Health by 54.3% in the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock worth $41,000 after purchasing an additional 182 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health in the third quarter worth approximately $33,000. Finally, First Community Trust NA increased its position in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS Health stock opened at $56.78 on Thursday. 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 capitalization of $71.28 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.93 and a beta of 0.54. The business has a fifty day simple moving average of $59.88 and a two-hundred day simple moving average of $60.17. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last announced 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. The business had revenue of $91.23 billion during 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 company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. On average, equities analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

A number of brokerages have commented on CVS. TD Cowen upgraded 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 research report on Friday, October 4th. 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 reduced 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 report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $74.89.

CVS Health Company 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.