Townsquare Capital LLC Decreases Holdings in CVS Health Co. (NYSE:CVS)

Townsquare Capital LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,419 shares of the pharmacy operator’s stock after selling 2,928 shares during the period. Townsquare Capital LLC’s holdings in CVS Health were worth $12,477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the third quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter worth about $32,000. First Community Trust NA grew its stake in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock opened at $59.96 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $75.45 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The business has a 50-day moving average of $59.30 and a 200 day moving average of $58.72. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 the consensus estimate of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.44%. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Mizuho cut 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. Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

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.