Foundations Investment Advisors LLC Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Foundations Investment Advisors LLC trimmed its position in shares of CVS Health Co. (NYSE:CVSFree Report) by 46.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,973 shares of the pharmacy operator’s stock after selling 6,785 shares during the quarter. Foundations Investment Advisors LLC’s holdings in CVS Health were worth $501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors increased its holdings in CVS Health by 8.0% during the first 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 during the last quarter. Capital International Investors raised its holdings 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 Research Global Investors grew its holdings in CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the period. Pzena Investment Management LLC increased its position in 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 buying an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of 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 valued at $555,406,000 after buying an additional 389,166 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $56.49 on Friday. The stock has a 50 day moving average price of $59.85 and a 200-day moving average price of $60.14. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a market cap of $71.06 billion, a price-to-earnings 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 quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVSGet Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share 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 business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on CVS. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Truist Financial lifted 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. Wells Fargo & Company raised their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $74.58.

Check Out Our Latest Report on CVS

CVS Health Company 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.

See Also

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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