CVS Health Co. (NYSE:CVS) Shares Sold by ING Groep NV

ING Groep NV reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 43.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,265 shares of the pharmacy operator’s stock after selling 127,683 shares during the quarter. ING Groep NV’s holdings in CVS Health were worth $10,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pzena Investment Management LLC grew its holdings in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Capital International Investors increased its holdings in CVS Health by 12.5% during the 1st 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 lifted its holdings in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of CVS Health by 5,864.2% during the 3rd 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 during the last quarter. Finally, State of Michigan Retirement System lifted its stake in 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 buying an additional 1,606,500 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVS has been the subject of a number of analyst reports. UBS Group boosted 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. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays cut 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

CVS Health Price Performance

Shares of NYSE:CVS opened at $55.11 on Friday. The firm has a 50-day simple moving average of $59.41 and a 200 day simple moving average of $58.79. 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 company has a market cap of $69.35 billion, a PE ratio of 13.99, a P/E/G ratio of 0.93 and a beta of 0.55. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping 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 analysts’ expectations of $92.72 billion. During the same period in the previous year, the business earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors 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 4.83%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

CVS Health 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.