Dumont & Blake Investment Advisors LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Dumont & Blake Investment Advisors LLC lowered its stake in CVS Health Co. (NYSE:CVS) by 51.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,525 shares of the pharmacy operator’s stock after selling 6,783 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in CVS Health were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Livelsberger Financial Advisory acquired a new position in CVS Health during the 3rd quarter worth approximately $31,000. First Community Trust NA increased its holdings in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the third quarter valued at $33,000. ORG Partners LLC lifted its holdings in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of CVS Health by 71.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 247 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Up 0.7 %

CVS Health stock opened at $56.49 on Friday. The stock’s 50 day moving average price is $59.85 and its 200 day moving average price is $60.14. The company has a market cap of $71.06 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping 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 business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the prior year, the company posted $2.21 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. CVS Health’s payout ratio is 47.33%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Truist Financial increased their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Barclays dropped their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, 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. 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, the company has an average rating of “Moderate Buy” and a consensus 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.