Independent Advisor Alliance Sells 27,018 Shares of CVS Health Co. (NYSE:CVS)

Independent Advisor Alliance lessened its stake in CVS Health Co. (NYSE:CVS) by 40.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,118 shares of the pharmacy operator’s stock after selling 27,018 shares during the period. Independent Advisor Alliance’s holdings in CVS Health were worth $2,460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC purchased a new position in CVS Health during the 3rd quarter valued at about $32,000. First Community Trust NA increased its holdings in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the 3rd quarter valued at about $33,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVS. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Stock Performance

CVS Health stock opened at $60.10 on Tuesday. 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 company has a market capitalization of $75.63 billion, a P/E ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The stock’s 50 day moving average is $59.25 and its 200 day moving average is $58.67. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 EPS. On average, equities research analysts predict that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.43%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.