CVS Health Co. (NYSE:CVS) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,246 shares of the pharmacy operator’s stock after selling 3,245 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CVS Health were worth $2,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CVS. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the 3rd quarter worth about $31,000. Crewe Advisors LLC bought a new position in CVS Health in the 1st quarter worth about $40,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the third quarter worth approximately $33,000. Finally, First Community Trust NA increased its position in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 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. Barclays lowered 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. Truist Financial increased their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Wells Fargo & Company cut their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, 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 report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $72.44.

CVS Health Stock Performance

Shares of CVS stock opened at $53.19 on Friday. 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 Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The stock’s fifty day simple moving average is $59.23 and its 200-day simple moving average is $58.66. The company has a market capitalization of $66.93 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is currently 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.