CVS Health Co. (NYSE:CVS) Shares Sold by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 25.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,948 shares of the pharmacy operator’s stock after selling 5,475 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in CVS Health were worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Pathway Financial Advisers LLC boosted its holdings in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares during the last quarter. Swedbank AB purchased a new stake in shares of CVS Health during the 1st quarter valued at approximately $110,816,000. Finally, AQR Capital Management LLC lifted its holdings in CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after acquiring an additional 1,327,855 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Mizuho decreased 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. Barclays decreased their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, TD Cowen boosted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Stock Performance

Shares of CVS Health stock opened at $60.10 on Tuesday. 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 Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The firm’s 50 day moving average is $59.25 and its two-hundred day moving average is $58.67. The firm has a market capitalization of $75.63 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Research analysts forecast that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors 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 dividend yield of 4.43%. CVS Health’s dividend payout ratio (DPR) is presently 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.