KBC Group NV Sells 1,251,527 Shares of CVS Health Co. (NYSE:CVS)

KBC Group NV decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 37.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,102,773 shares of the pharmacy operator’s stock after selling 1,251,527 shares during the period. KBC Group NV owned approximately 0.17% of CVS Health worth $132,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd grew its holdings in shares of CVS Health by 4.0% during the 3rd quarter. Plato Investment Management Ltd now owns 36,020 shares of the pharmacy operator’s stock worth $2,263,000 after acquiring an additional 1,383 shares during the period. Alexander Randolph Advisory Inc. boosted its position in shares of CVS Health by 7.3% during the third quarter. Alexander Randolph Advisory Inc. now owns 59,602 shares of the pharmacy operator’s stock valued at $3,748,000 after purchasing an additional 4,035 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in CVS Health by 5.6% in the third quarter. Oppenheimer & Co. Inc. now owns 99,848 shares of the pharmacy operator’s stock worth $6,278,000 after purchasing an additional 5,325 shares during the period. Oppenheimer Asset Management Inc. lifted its position in CVS Health by 5.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after buying an additional 24,285 shares during the period. Finally, MQS Management LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $237,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $54.27 on Thursday. The stock’s fifty day moving average is $59.47 and its 200 day moving average is $58.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The stock has a market cap of $68.29 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Co. will post 5.44 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.90%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. UBS Group lifted their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Wells Fargo & Company cut their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Finally, TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.