First Trust Direct Indexing L.P. Has $1.29 Million Stock Position in CVS Health Co. (NYSE:CVS)

First Trust Direct Indexing L.P. lessened its position in shares of CVS Health Co. (NYSE:CVS) by 14.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 20,440 shares of the pharmacy operator’s stock after selling 3,357 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in CVS Health were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. First Community Trust NA grew its holdings in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $33,000. ORG Partners LLC boosted its stake in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 592 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in CVS Health by 71.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 247 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Barclays cut their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Truist Financial lifted their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Stock Up 0.1 %

Shares of CVS Health stock opened at $56.46 on Friday. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market cap of $71.03 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54. The business has a fifty day simple moving average of $59.70 and a 200 day simple moving average of $59.65.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations 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 was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. Research analysts predict that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. CVS Health’s dividend payout ratio is currently 47.33%.

About CVS Health

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.