Cheviot Value Management LLC Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Cheviot Value Management LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 7.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,665 shares of the pharmacy operator’s stock after selling 4,770 shares during the quarter. CVS Health comprises 0.7% of Cheviot Value Management LLC’s holdings, making the stock its 28th largest position. Cheviot Value Management LLC’s holdings in CVS Health were worth $3,689,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new position in CVS Health during the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the third quarter worth $32,000. First Community Trust NA grew its holdings in shares of CVS Health by 116.2% during 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. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $59.85 on Monday. The company has a market capitalization of $75.32 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.02 and a beta of 0.55. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The business’s 50 day moving average is $59.36 and its two-hundred day moving average is $58.77. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 EPS. Analysts expect that CVS Health Co. will post 5.37 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVS shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health 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.