Sigma Planning Corp Sells 13,100 Shares of CVS Health Co. (NYSE:CVS)

Sigma Planning Corp cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 34.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,786 shares of the pharmacy operator’s stock after selling 13,100 shares during the quarter. Sigma Planning Corp’s holdings in CVS Health were worth $1,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Pzena Investment Management LLC increased its holdings in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying 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 acquiring an additional 4,226,225 shares in the last quarter. Capital World Investors increased its stake in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC raised its position in CVS Health by 5,864.2% during the third 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 boosted 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. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 3.2 %

NYSE CVS opened at $54.04 on Wednesday. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66. The business has a 50 day simple moving average of $59.53 and a 200 day simple moving average of $58.97. The stock has a market capitalization of $68.00 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.88 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The company 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%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. Research analysts expect that CVS Health Co. will post 5.63 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVS. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.