Te Ahumairangi Investment Management Ltd Has $7.44 Million Position in CVS Health Co. (NYSE:CVS)

Te Ahumairangi Investment Management Ltd lowered its position in CVS Health Co. (NYSE:CVS) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,972 shares of the pharmacy operator’s stock after selling 4,430 shares during the quarter. CVS Health accounts for approximately 1.3% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 21st largest position. Te Ahumairangi Investment Management Ltd’s holdings in CVS Health were worth $7,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Garland Capital Management Inc. increased its stake in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC increased its stake in shares of CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares during the period. Plimoth Trust Co. LLC increased its stake in shares of CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after buying an additional 174 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC increased its position in CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $51.77 on Thursday. CVS Health Co. has a 12-month low of $51.73 and a 12-month high of $83.25. The business’s fifty day moving average is $58.86 and its 200 day moving average is $58.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $65.14 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.95 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the business earned $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.14%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVS. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Finally, UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

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.