AlTi Global Inc. Trims Stake in CVS Health Co. (NYSE:CVS)

AlTi Global Inc. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,362 shares of the pharmacy operator’s stock after selling 1,052 shares during the quarter. AlTi Global Inc.’s holdings in CVS Health were worth $5,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVS. Semmax Financial Advisors Inc. increased its holdings in shares of CVS Health by 13.9% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 16,126 shares of the pharmacy operator’s stock valued at $900,000 after acquiring an additional 1,969 shares during the period. Solel Partners LP purchased a new position in shares of CVS Health in the 2nd quarter valued at $29,731,000. Mill Creek Capital Advisors LLC purchased a new position in shares of CVS Health in the 2nd quarter valued at $740,000. Cheviot Value Management LLC increased its holdings in shares of CVS Health by 4.0% in the 2nd quarter. Cheviot Value Management LLC now owns 63,435 shares of the pharmacy operator’s stock valued at $3,746,000 after acquiring an additional 2,461 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of CVS Health by 2.4% in the 2nd quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator’s stock valued at $143,890,000 after acquiring an additional 57,214 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE CVS opened at $58.11 on Wednesday. The stock has a 50-day simple moving average of $58.24 and a two-hundred day simple moving average of $62.20. The firm has a market capitalization of $73.10 billion, a P/E ratio of 10.21, a PEG ratio of 0.81 and a beta of 0.53. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share 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 business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the business posted $2.21 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.58%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVS. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Evercore ISI lowered their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Monday, September 16th. Finally, Baird R W raised CVS Health to a “hold” rating in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.10.

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.