CVS Health Co. (NYSE:CVS) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,962 shares of the pharmacy operator’s stock after selling 833 shares during the quarter. Sunbelt Securities Inc.’s holdings in CVS Health were worth $689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Garland Capital Management Inc. raised its position in shares of CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its stake in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in shares of CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC raised its stake in CVS Health by 2.5% during the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after acquiring an additional 183 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $49.59 on Friday. The stock has a market cap of $62.40 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54. CVS Health Co. has a 52 week low of $49.47 and a 52 week high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $58.86 and its two-hundred day moving average price is $58.75.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the company posted $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.36%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVS shares. Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. UBS Group increased their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $70.50.

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.