Octavia Wealth Advisors LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Octavia Wealth Advisors LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,642 shares of the pharmacy operator’s stock after selling 2,187 shares during the period. Octavia Wealth Advisors LLC’s holdings in CVS Health were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC lifted its holdings in CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after purchasing an additional 461,569 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after purchasing an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after acquiring an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CVS shares. Barclays reduced their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Evercore ISI lifted 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. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Performance

Shares of CVS opened at $53.14 on Wednesday. The stock has a 50-day simple moving average of $51.27 and a 200-day simple moving average of $56.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a market capitalization of $66.87 billion, a PE ratio of 13.49, a PEG ratio of 0.79 and a beta of 0.59. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 earnings per share. On average, analysts predict that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

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.