Archer Investment Corp Sells 5,700 Shares of CVS Health Co. (NYSE:CVS)

Archer Investment Corp lessened its holdings in CVS Health Co. (NYSE:CVS) by 14.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 35,091 shares of the pharmacy operator’s stock after selling 5,700 shares during the quarter. Archer Investment Corp’s holdings in CVS Health were worth $2,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CVS. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter valued at approximately $32,000. First Community Trust NA raised its holdings in CVS Health by 116.2% during the 2nd 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. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the third quarter worth about $33,000. Finally, ORG Partners LLC increased its holdings in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVS has been the topic of a number of research analyst reports. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Price Performance

Shares of CVS traded down $0.76 during midday trading on Friday, hitting $54.33. The company’s stock had a trading volume of 139,235 shares, compared to its average volume of 11,267,334. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company’s fifty day simple moving average is $59.32 and its two-hundred day simple moving average is $58.76. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $68.37 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its 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. The company had revenue of $95.43 billion for 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%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. As a group, equities analysts expect that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 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.