CVS Health Co. (NYSE:CVS) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 19.4% during the third quarter, HoldingsChannel.com reports. The firm owned 12,217 shares of the pharmacy operator’s stock after selling 2,940 shares during the period. SageView Advisory Group LLC’s holdings in CVS Health were worth $768,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVS. 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 research note on Wednesday, November 20th. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada lowered their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Price Performance

Shares of NYSE CVS opened at $56.88 on Friday. The business has a 50 day simple moving average of $59.39 and a 200-day simple moving average of $58.79. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The company has a market capitalization of $71.58 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.54. 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 posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 5.37 earnings per share for the current year.

CVS Health Dividend Announcement

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. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

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.