Beese Fulmer Investment Management Inc. Has $248,000 Stock Position in CVS Health Co. (NYSE:CVS)

Beese Fulmer Investment Management Inc. lessened its holdings in CVS Health Co. (NYSE:CVS) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,946 shares of the pharmacy operator’s stock after selling 880 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in CVS Health were worth $248,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its position in CVS Health by 8.0% in the first 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 in the last quarter. Capital International Investors boosted its holdings in shares of 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 acquiring an additional 4,226,225 shares in the last quarter. Capital Research Global Investors grew its position in CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after acquiring an additional 184,297 shares during the last quarter. Pzena Investment Management LLC increased its holdings in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in CVS Health by 5.9% in 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 during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVS shares. Mizuho lowered 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. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Truist Financial lifted their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI increased their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.58.

CVS Health Price Performance

Shares of NYSE CVS opened at $56.11 on Friday. 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’s 50-day moving average price is $59.88 and its 200-day moving average price is $60.17. The firm has a market capitalization of $70.44 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.93 and a beta of 0.54. 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 quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

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.