First Horizon Advisors Inc. Sells 815 Shares of CVS Health Co. (NYSE:CVS)

First Horizon Advisors Inc. trimmed its holdings in CVS Health Co. (NYSE:CVS) by 8.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,924 shares of the pharmacy operator’s stock after selling 815 shares during the period. First Horizon Advisors Inc.’s holdings in CVS Health were worth $561,000 as of its most recent filing with the SEC.

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

CVS Health Trading Up 0.4 %

CVS opened at $57.07 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market cap 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 52 week low of $52.71 and a 52 week high of $83.25. The business has a fifty day simple moving average of $59.20 and a 200-day simple moving average of $58.60.

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 the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. During the same quarter last year, the firm posted $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts expect that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid 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 yield of 4.66%. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a research report on Wednesday. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Finally, Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $72.28.

About CVS Health

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.