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

Townsquare Capital LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,419 shares of the pharmacy operator’s stock after selling 2,928 shares during the quarter. Townsquare Capital LLC’s holdings in CVS Health were worth $12,477,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVS. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the third quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health in the third quarter valued at $32,000. First Community Trust NA boosted its stake in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health during the third quarter worth about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of NYSE CVS opened at $59.96 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a market cap of $75.45 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The company has a 50-day simple moving average of $59.30 and a 200-day simple moving average of $58.72. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $92.72 billion. During the same period in the previous year, the company earned $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

A number of research firms recently issued reports on CVS. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays cut their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Piper Sandler lowered 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. 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 stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $70.33.

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.