Global Retirement Partners LLC Has $1.12 Million Stake in CVS Health Co. (NYSE:CVS)

Global Retirement Partners LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 52.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,810 shares of the pharmacy operator’s stock after selling 19,261 shares during the period. Global Retirement Partners LLC’s holdings in CVS Health were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in CVS Health in the third quarter valued at about $101,000. LaFleur & Godfrey LLC acquired a new position in CVS Health in the third quarter valued at about $203,000. Sumitomo Life Insurance Co. boosted its position in shares of CVS Health by 3.0% during the third quarter. Sumitomo Life Insurance Co. now owns 17,692 shares of the pharmacy operator’s stock worth $1,112,000 after buying an additional 516 shares during the period. Sunpointe LLC boosted its position in shares of CVS Health by 14.1% during the third quarter. Sunpointe LLC now owns 4,244 shares of the pharmacy operator’s stock worth $267,000 after buying an additional 524 shares during the period. Finally, Shulman DeMeo Asset Management LLC acquired a new position in shares of CVS Health during the third quarter worth about $175,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVS shares. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $63.00 to $82.00 in a research report on Thursday, October 10th. Evercore ISI upped 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. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial upped their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.26.

CVS Health Price Performance

NYSE:CVS opened at $60.34 on Friday. The firm has a market capitalization of $75.75 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.93 and a beta of 0.54. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock’s 50 day moving average price is $59.80 and its two-hundred day moving average price is $60.53.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. On average, analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.41%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.