CVS Health Co. (NYSE:CVS) Shares Sold by KPP Advisory Services LLC

KPP Advisory Services LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 6.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,922 shares of the pharmacy operator’s stock after selling 640 shares during the period. KPP Advisory Services LLC’s holdings in CVS Health were worth $561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares in the last quarter. Cullinan Associates Inc. lifted its position in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health in the second quarter worth approximately $57,584,000. Oppenheimer Asset Management Inc. raised its stake in CVS Health by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after purchasing an additional 24,285 shares during the last quarter. Finally, CX Institutional boosted its stake in CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after purchasing an additional 65,259 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 3.4 %

NYSE:CVS opened at $53.19 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $66.93 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. CVS Health Co. has a 52 week low of $52.71 and a 52 week high of $83.25. The stock’s fifty day moving average is $59.23 and its two-hundred day moving average is $58.66.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts anticipate that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 5.00%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVS. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Mizuho dropped 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $72.44.

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.