CVS Health Co. (NYSE:CVS) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 33.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,724 shares of the pharmacy operator’s stock after selling 4,334 shares during the quarter. First City Capital Management Inc.’s holdings in CVS Health were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. Crewe Advisors LLC acquired a new stake in shares of CVS Health in the first quarter valued at approximately $40,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Mizuho decreased their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group increased 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. Deutsche Bank Aktiengesellschaft decreased their price target 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, 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $72.78.

CVS Health Trading Up 5.4 %

Shares of CVS stock opened at $56.08 on Tuesday. CVS Health Co. has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The stock has a market cap of $70.57 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.92 and a beta of 0.55. The business has a fifty day simple moving average of $59.19 and a 200-day simple moving average of $58.60. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter last year, the business posted $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend 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.