Sky Investment Group LLC Trims Stake in CVS Health Co. (NYSE:CVS)

Sky Investment Group LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 52.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,115 shares of the pharmacy operator’s stock after selling 4,556 shares during the quarter. Sky Investment Group LLC’s holdings in CVS Health were worth $259,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CVS. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. First Community Trust NA raised its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health during the third quarter valued at approximately $33,000. ORG Partners LLC increased its holdings in CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in CVS Health by 71.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 247 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock traded down $0.81 on Tuesday, hitting $57.36. 2,795,493 shares of the company were exchanged, compared to its average volume of 11,198,555. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. 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 stock has a market capitalization of $72.01 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company has a 50-day moving average price of $59.85 and a 200 day moving average price of $60.32.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVS shares. 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 note on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Wells Fargo & Company lifted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Barclays raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $63.00 to $82.00 in a report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $75.26.

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.