NTV Asset Management LLC Sells 500 Shares of CVS Health Co. (NYSE:CVS)

NTV Asset Management LLC reduced its position in CVS Health Co. (NYSE:CVS) by 15.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,683 shares of the pharmacy operator’s stock after selling 500 shares during the quarter. NTV Asset Management LLC’s holdings in CVS Health were worth $228,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CVS. Penserra Capital Management LLC purchased a new stake in CVS Health in the second quarter valued at approximately $25,000. Albion Financial Group UT purchased a new stake in CVS Health in the second quarter valued at approximately $40,000. Tower View Investment Management & Research LLC purchased a new stake in CVS Health in the third quarter valued at approximately $42,000. Strategic Blueprint LLC purchased a new position in shares of CVS Health during the second quarter worth approximately $46,000. Finally, Reilly Financial Advisors LLC raised its stake in shares of CVS Health by 37.6% during the third quarter. Reilly Financial Advisors LLC now owns 564 shares of the pharmacy operator’s stock worth $48,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.

CVS opened at $106.22 on Friday. The stock has a 50-day moving average price of $97.88 and a 200-day moving average price of $89.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.67. The firm has a market cap of $140.22 billion, a PE ratio of 18.57, a P/E/G ratio of 1.65 and a beta of 0.86. CVS Health Co. has a 1 year low of $68.02 and a 1 year high of $107.26.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.18. CVS Health had a return on equity of 14.16% and a net margin of 2.66%. The business had revenue of $73.79 billion during the quarter, compared to analyst estimates of $70.52 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. CVS Health’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.36 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Friday, January 21st will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, January 20th. This is an increase from CVS Health’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.07%. CVS Health’s payout ratio is 34.97%.

In related news, COO Jonathan C. Roberts sold 108,870 shares of the stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $95.00, for a total transaction of $10,342,650.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Troyen A. Brennan sold 28,159 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $90.00, for a total value of $2,534,310.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,786 shares of company stock valued at $20,159,576. 0.69% of the stock is currently owned by corporate insiders.

CVS has been the topic of several research reports. Tigress Financial lifted their price target on shares of CVS Health from $108.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, December 23rd. Mizuho lifted their price target on shares of CVS Health from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of CVS Health from $101.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, November 5th. Truist raised their target price on shares of CVS Health from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, January 5th. Finally, Barclays raised their target price on shares of CVS Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, November 4th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $112.04.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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