Valmark Advisers Inc. Has $300,000 Stock Position in CVS Health Co. (NYSE:CVS)

Valmark Advisers Inc. decreased its holdings in CVS Health Co. (NYSE:CVS) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,775 shares of the pharmacy operator’s stock after selling 310 shares during the period. Valmark Advisers Inc.’s holdings in CVS Health were worth $300,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CVS. Capital World Investors lifted its holdings in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Capital International Investors lifted its stake in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after buying an additional 184,297 shares during the period. Pzena Investment Management LLC raised its holdings in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in CVS Health by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock worth $555,406,000 after purchasing an additional 389,166 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVS shares. Barclays dropped their price objective on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Mizuho decreased their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Stock Up 0.1 %

Shares of CVS opened at $56.46 on Friday. 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 Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a market capitalization of $71.03 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.84 and a beta of 0.54. The stock has a fifty day moving average of $59.70 and a 200-day moving average of $59.65.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the company earned $2.21 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

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.