CVS Health Co. (NYSE:CVS) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,460 shares of the pharmacy operator’s stock after selling 496 shares during the quarter. Aviance Capital Partners LLC’s holdings in CVS Health were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the third quarter worth $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the third quarter valued at $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health during the 3rd quarter worth about $32,000. First Community Trust NA raised its stake 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 purchasing an additional 302 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the 3rd quarter valued at about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Mizuho reduced their price target 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. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $66.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.78.

CVS Health Price Performance

Shares of NYSE CVS opened at $55.82 on Wednesday. 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 company has a market capitalization of $70.24 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.92 and a beta of 0.55. The business has a 50-day moving average of $59.18 and a 200-day moving average of $58.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) 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 company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.77%. 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.