CVS Health Co. (NYSE:CVS) Shares Sold by Clarius Group LLC

Clarius Group LLC decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 58.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,629 shares of the pharmacy operator’s stock after selling 5,128 shares during the period. Clarius Group LLC’s holdings in CVS Health were worth $223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health in the fourth quarter worth approximately $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the 4th quarter worth $34,000. Steph & Co. lifted its holdings in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Kapitalo Investimentos Ltda bought a new stake in CVS Health in the fourth quarter worth about $36,000. Finally, Scarborough Advisors LLC bought a new position in shares of CVS Health during the 4th quarter valued at about $37,000. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CVS shares. Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Truist Financial increased 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. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $63.00 to $82.00 in a report on Thursday. 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. Finally, Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.26.

CVS Health Stock Performance

Shares of CVS stock opened at $66.63 on Friday. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The stock’s 50-day moving average is $59.12 and its two-hundred day moving average is $61.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The firm has a market cap of $83.65 billion, a P/E ratio of 11.71, a PEG ratio of 0.93 and a beta of 0.54.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.99%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

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.