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

Summit Trail Advisors LLC trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 39.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,579 shares of the pharmacy operator’s stock after selling 5,703 shares during the period. Summit Trail Advisors LLC’s holdings in CVS Health were worth $539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Janus Henderson Group PLC lifted its holdings in CVS Health by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock worth $14,143,000 after buying an additional 4,318 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in CVS Health during the 1st quarter worth about $241,000. Heartland Bank & Trust Co lifted its holdings in CVS Health by 124.9% during the 1st quarter. Heartland Bank & Trust Co now owns 8,196 shares of the pharmacy operator’s stock worth $654,000 after buying an additional 4,552 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its holdings in CVS Health by 6.2% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 61,939 shares of the pharmacy operator’s stock worth $4,940,000 after buying an additional 3,628 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in CVS Health during the 1st quarter worth about $1,085,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler reduced their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Stock Performance

NYSE CVS opened at $59.02 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $59.26 and its two-hundred day moving average is $58.69. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The stock has a market capitalization of $74.27 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.98 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its 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. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Research analysts expect that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared 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 4.51%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 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.