Cullen Investment Group LTD. Has $1.90 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Cullen Investment Group LTD. cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,174 shares of the pharmacy operator’s stock after selling 1,060 shares during the period. Cullen Investment Group LTD.’s holdings in CVS Health were worth $1,897,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its holdings in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. Capital International Investors lifted its stake in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital World Investors boosted its holdings 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 acquiring an additional 3,232,172 shares during the last quarter. State of Michigan Retirement System raised its holdings in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of CVS Health in the 4th quarter worth approximately $111,209,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 2.7 %

CVS traded up $1.67 during midday trading on Friday, reaching $64.59. 16,313,877 shares of the company were exchanged, compared to its average volume of 11,032,696. The company’s fifty day moving average price is $58.60 and its 200 day moving average price is $61.58. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a market cap of $81.08 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. 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 posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 EPS. As a group, analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.12%. CVS Health’s payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a research report on Friday. Wells Fargo & Company lifted their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Evercore ISI lowered their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $73.40.

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.