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

Neumann Capital Management LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,931 shares of the pharmacy operator’s stock after selling 2,985 shares during the quarter. Neumann Capital Management LLC’s holdings in CVS Health were worth $2,574,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CVS. Pzena Investment Management LLC grew its holdings in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Capital International Investors boosted its position in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital World Investors grew its stake in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $55.11 on Friday. The business has a fifty day simple moving average of $59.41 and a 200-day simple moving average of $58.79. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a market cap of $69.35 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.93 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the company posted $2.21 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend yield of 4.83%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVS. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company decreased their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.