Spectrum Asset Management Inc. NB CA decreased its position in CVS Health Corporation (NYSE:CVS) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 9,245 shares of the pharmacy operator’s stock after selling 220 shares during the period. CVS Health Corporation accounts for approximately 0.9% of Spectrum Asset Management Inc. NB CA’s holdings, making the stock its 27th largest position. Spectrum Asset Management Inc. NB CA’s holdings in CVS Health Corporation were worth $823,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVS. Bank of Montreal Can bought a new stake in shares of CVS Health Corporation during the second quarter worth about $438,948,000. Westwood Holdings Group Inc. increased its stake in shares of CVS Health Corporation by 1,125.2% in the second quarter. Westwood Holdings Group Inc. now owns 1,516,808 shares of the pharmacy operator’s stock worth $145,220,000 after buying an additional 1,393,009 shares in the last quarter. Sentry Investments Corp. increased its stake in shares of CVS Health Corporation by 62.1% in the second quarter. Sentry Investments Corp. now owns 3,532,600 shares of the pharmacy operator’s stock worth $338,211,000 after buying an additional 1,353,000 shares in the last quarter. Honeywell International Inc. bought a new stake in shares of CVS Health Corporation during the second quarter worth about $67,918,000. Finally, Macquarie Group Ltd. increased its stake in shares of CVS Health Corporation by 9.7% in the second quarter. Macquarie Group Ltd. now owns 7,707,523 shares of the pharmacy operator’s stock worth $737,919,000 after buying an additional 682,784 shares in the last quarter. 80.32% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of CVS Health Corporation (NYSE:CVS) traded down 0.75% on Friday, reaching $81.98. The company had a trading volume of 4,809,230 shares. The company’s 50-day moving average is $79.36 and its 200-day moving average is $87.47. CVS Health Corporation has a one year low of $69.30 and a one year high of $106.67. The company has a market capitalization of $87.43 billion, a PE ratio of 17.57 and a beta of 0.84.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, November 8th. The pharmacy operator reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.07. The firm had revenue of $44.60 billion for the quarter, compared to the consensus estimate of $45.29 billion. CVS Health Corporation had a net margin of 2.96% and a return on equity of 17.18%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. Equities research analysts predict that CVS Health Corporation will post $5.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Tuesday, January 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.44%. This is an increase from CVS Health Corporation’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, January 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 36.40%.

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A number of equities research analysts recently issued reports on CVS shares. Credit Suisse Group reissued an “outperform” rating and set a $110.00 price target (down previously from $115.00) on shares of CVS Health Corporation in a research report on Tuesday, October 4th. Robert W. Baird reduced their price target on CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, October 3rd. Leerink Swann reissued an “outperform” rating and set a $105.00 price target (down previously from $110.00) on shares of CVS Health Corporation in a research report on Sunday, October 2nd. Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $98.36 price target on the stock in a research report on Monday, October 24th. Finally, Guggenheim reissued a “buy” rating and set a $90.00 price target on shares of CVS Health Corporation in a research report on Tuesday, December 13th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $101.77.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

5 Day Chart for NYSE:CVS

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