CVS Health Co. (NYSE:CVS) Shares Sold by AlphaCore Capital LLC

AlphaCore Capital LLC cut its position in shares of CVS Health Co. (NYSE:CVS) by 22.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,039 shares of the pharmacy operator’s stock after selling 1,158 shares during the quarter. AlphaCore Capital LLC’s holdings in CVS Health were worth $254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC raised its stake in shares of CVS Health by 127.5% in the 1st quarter. EntryPoint Capital LLC now owns 1,397 shares of the pharmacy operator’s stock valued at $111,000 after acquiring an additional 783 shares during the period. CreativeOne Wealth LLC raised its position in CVS Health by 21.8% in the first quarter. CreativeOne Wealth LLC now owns 9,414 shares of the pharmacy operator’s stock valued at $750,000 after purchasing an additional 1,688 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of CVS Health by 24.0% during the first quarter. Axxcess Wealth Management LLC now owns 26,996 shares of the pharmacy operator’s stock worth $2,153,000 after purchasing an additional 5,229 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of CVS Health by 2.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,475,830 shares of the pharmacy operator’s stock valued at $117,712,000 after buying an additional 37,404 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of CVS Health by 8.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,150,505 shares of the pharmacy operator’s stock valued at $171,524,000 after buying an additional 174,015 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research report on Wednesday. Mizuho dropped their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Evercore ISI raised their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, UBS Group upped their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $72.28.

CVS Health Trading Up 0.4 %

NYSE:CVS opened at $57.07 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market capitalization of $71.81 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.94 and a beta of 0.55. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The business has a 50 day simple moving average of $59.20 and a 200 day simple moving average of $58.60.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating 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 firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the firm earned $2.21 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts predict that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.66%. 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.