CVS Health Co. (NYSE:CVS) Shares Sold by KPP Advisory Services LLC

KPP Advisory Services LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.7% in the third quarter, Holdings Channel reports. The institutional investor owned 8,922 shares of the pharmacy operator’s stock after selling 640 shares during the period. KPP Advisory Services LLC’s holdings in CVS Health were worth $561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pzena Investment Management LLC raised its holdings in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Capital International Investors boosted its stake in CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares in the last quarter. Capital World Investors grew its holdings in shares of CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. Wells Fargo & Company cut their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. Barclays lowered their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Truist Financial upped their target price 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. Finally, UBS Group raised their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.44.

CVS Health Price Performance

Shares of NYSE:CVS opened at $53.19 on Friday. The stock has a market cap of $66.93 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The business’s fifty day moving average price is $59.23 and its two-hundred day moving average price is $58.66. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. On average, analysts forecast that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

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