Inlet Private Wealth LLC Sells 6,275 Shares of CVS Health Co. (NYSE:CVS)

Inlet Private Wealth LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 8.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 63,896 shares of the pharmacy operator’s stock after selling 6,275 shares during the period. Inlet Private Wealth LLC’s holdings in CVS Health were worth $4,018,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new stake in CVS Health in the 4th quarter valued at approximately $37,000. Wellington Management Group LLP raised its holdings in shares of CVS Health by 33.2% in the fourth quarter. Wellington Management Group LLP now owns 219,030 shares of the pharmacy operator’s stock valued at $17,295,000 after purchasing an additional 54,616 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of CVS Health in the fourth quarter worth $36,000. Alaska Permanent Fund Corp grew its position in CVS Health by 4.0% in the first quarter. Alaska Permanent Fund Corp now owns 34,278 shares of the pharmacy operator’s stock valued at $2,734,000 after purchasing an additional 1,329 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in CVS Health by 0.8% in the 1st quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock valued at $1,410,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent research reports. Truist Financial lifted their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.26.

CVS Health Stock Performance

Shares of CVS traded down $1.73 during mid-day trading on Thursday, hitting $63.29. 4,382,978 shares of the company’s stock were exchanged, compared to its average volume of 11,047,365. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market cap of $79.45 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The stock’s 50-day simple moving average is $59.62 and its 200-day simple moving average is $60.73. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the prior year, the company posted $2.21 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is presently 46.75%.

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.