Goelzer Investment Management Inc. Cuts Position in CVS Health Co. (NYSE:CVS)

Goelzer Investment Management Inc. lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.2% during the third quarter, HoldingsChannel.com reports. The firm owned 75,948 shares of the pharmacy operator’s stock after selling 5,020 shares during the period. Goelzer Investment Management Inc.’s holdings in CVS Health were worth $4,776,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LifePlan Financial LLC increased its holdings in CVS Health by 12.1% in the 3rd quarter. LifePlan Financial LLC now owns 21,937 shares of the pharmacy operator’s stock worth $1,379,000 after acquiring an additional 2,375 shares in the last quarter. Apella Capital LLC acquired a new stake in shares of CVS Health in the third quarter valued at about $249,000. Alpha Omega Wealth Management LLC increased its stake in shares of CVS Health by 1.3% during the third quarter. Alpha Omega Wealth Management LLC now owns 153,687 shares of the pharmacy operator’s stock worth $9,664,000 after purchasing an additional 1,969 shares in the last quarter. Farmers Trust Co. lifted its stake in CVS Health by 7.6% in the 3rd quarter. Farmers Trust Co. now owns 79,493 shares of the pharmacy operator’s stock valued at $4,999,000 after buying an additional 5,634 shares in the last quarter. Finally, Czech National Bank boosted its holdings in CVS Health by 7.2% in the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after buying an additional 17,206 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 2.7 %

Shares of NYSE CVS traded up $1.67 during trading on Friday, reaching $64.59. The stock had a trading volume of 16,313,877 shares, compared to its average volume of 11,032,696. The business’s 50-day moving average price is $58.60 and its 200-day moving average price is $61.58. 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. The company has a market cap of $81.08 billion, a P/E ratio of 11.35, a PEG ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

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 given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Ratings Changes

A number of brokerages have commented on CVS. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Barclays decreased their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. 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. Evercore ISI decreased their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a research note on Friday. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.40.

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.