GM Advisory Group LLC Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

GM Advisory Group LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,249 shares of the pharmacy operator’s stock after selling 3,834 shares during the period. GM Advisory Group LLC’s holdings in CVS Health were worth $456,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Pzena Investment Management LLC raised its position in shares of 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 worth $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Swedbank AB purchased a new stake in shares of CVS Health during the first quarter valued at approximately $110,816,000. Finally, AQR Capital Management LLC raised its holdings in CVS Health by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after acquiring an additional 1,327,855 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 1.6 %

CVS stock opened at $58.01 on Friday. The business’s 50-day moving average price is $59.21 and its 200-day moving average price is $58.59. The stock has a market cap of $73.00 billion, a P/E ratio of 14.72, a PEG ratio of 0.96 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. 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 analysts’ consensus estimates of $1.08 by $0.01. The business 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%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. On average, equities research analysts forecast that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Truist Financial reiterated a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a report on Wednesday. Royal Bank of Canada lowered their target price 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, November 15th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, UBS Group increased their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.28.

CVS Health Company 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.