Patton Albertson Miller Group LLC Sells 4,737 Shares of CVS Health Co. (NYSE:CVS)

Patton Albertson Miller Group LLC reduced its position in CVS Health Co. (NYSE:CVS) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,018 shares of the pharmacy operator’s stock after selling 4,737 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in CVS Health were worth $6,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

CVS Health Stock Performance

CVS stock opened at $60.10 on Tuesday. The firm has a market cap of $75.63 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The firm has a 50-day simple moving average of $59.25 and a two-hundred day simple moving average of $58.67. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the company posted $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued 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 dividend yield of 4.43%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Mizuho dropped their price objective 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. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday. Finally, TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.33.

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.