PFG Investments LLC Sells 3,214 Shares of CVS Health Co. (NYSE:CVS)

by · The Markets Daily

PFG Investments LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS – Free Report) by 10.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,652 shares of the pharmacy operator’s stock after selling 3,214 shares during the quarter. PFG Investments LLC’s holdings in CVS Health were worth $1,739,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Pzena Investment Management LLC boosted its holdings in shares of 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 worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Capital International Investors boosted its stake in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital World Investors grew 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 buying an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $56.49 on Friday. The stock has a market capitalization of $70.92 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. 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 business’s 50 day simple moving average is $59.82 and its two-hundred day simple moving average is $59.92.

CVS Health (NYSE:CVS – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same period in the prior year, the business posted $2.21 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVS shares. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday. Wells Fargo & Company upped their price target 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. Barclays dropped their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.58.

Check Out Our Latest Analysis on CVS Health

CVS Health Profile

(Free Report)

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.

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