CVS Health Co. (NYSE:CVS) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 8.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,246 shares of the pharmacy operator’s stock after selling 3,245 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CVS Health were worth $2,342,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Garland Capital Management Inc. grew its position in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its stake in 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 period. Plimoth Trust Co. LLC grew its holdings in shares of CVS Health by 0.4% during the second 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 increased its holdings in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC raised its position in CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 3.4 %

Shares of NYSE CVS opened at $53.19 on Friday. 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 1 year low of $52.71 and a 1 year high of $83.25. The stock’s 50-day simple moving average is $59.23 and its 200-day simple moving average is $58.66. The firm has a market cap of $66.93 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.92 and a beta of 0.55.

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, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. As a group, equities analysts anticipate that CVS Health Co. will post 5.48 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company 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 dividend yield of 5.00%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday. Evercore ISI increased 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. Truist Financial boosted their price target on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $72.44.

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.