PSI Advisors LLC Has $895,000 Holdings in CVS Health Co. (NYSE:CVS)

PSI Advisors LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,231 shares of the pharmacy operator’s stock after selling 758 shares during the quarter. PSI Advisors LLC’s holdings in CVS Health were worth $895,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. 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 in the last quarter. Capital International Investors raised 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 valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital World Investors lifted its position 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 worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. State of Michigan Retirement System boosted its stake in CVS Health by 402.5% during 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. Finally, Swedbank AB acquired a new position in shares of CVS Health in the 1st quarter valued at $110,816,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 0.2 %

Shares of NYSE:CVS opened at $56.88 on Thursday. The company has a market capitalization of $71.41 billion, a PE ratio of 9.98, a PEG ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 52 week low of $52.77 and a 52 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 50 day moving average price of $59.88 and a two-hundred day moving average price of $60.17.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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. 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 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% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is 46.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial boosted their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

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.