Tranquility Partners LLC Trims Stake in CVS Health Co. (NYSE:CVS)

Tranquility Partners LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,055 shares of the pharmacy operator’s stock after selling 243 shares during the period. Tranquility Partners LLC’s holdings in CVS Health were worth $318,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Garland Capital Management Inc. lifted its stake in CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC lifted 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 acquiring an additional 162 shares in the last quarter. Plimoth Trust Co. LLC boosted its holdings in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares during the period. Hexagon Capital Partners LLC increased its stake in CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC lifted its position 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 worth $447,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Truist Financial increased their price objective 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.78.

CVS Health Stock Up 5.4 %

CVS Health stock opened at $56.08 on Tuesday. The stock’s 50 day moving average price is $59.19 and its 200 day moving average price is $58.60. The company has a market cap of $70.57 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 1-year low of $52.71 and a 1-year 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 analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. On average, sell-side analysts predict that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.74%. CVS Health’s payout ratio is 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.