Semmax Financial Advisors Inc. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Semmax Financial Advisors Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 90.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,499 shares of the pharmacy operator’s stock after selling 14,627 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in CVS Health were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares during the last quarter. Cullinan Associates Inc. grew its position in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after acquiring an additional 10,453 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health during the second quarter worth about $57,584,000. Finally, Oppenheimer Asset Management Inc. grew its stake in CVS Health by 5.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after buying an additional 24,285 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $59.85 on Friday. The firm 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. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The business’s 50-day simple moving average is $59.36 and its 200-day simple moving average is $58.75.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the business earned $2.21 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Equities analysts predict that CVS Health Co. will post 5.37 EPS for the current 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 issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.44%. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Truist Financial reissued a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. UBS Group boosted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.33.

About CVS Health

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.