Summit Trail Advisors LLC Decreases Holdings in CVS Health Co. (NYSE:CVS)

Summit Trail Advisors LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 39.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,579 shares of the pharmacy operator’s stock after selling 5,703 shares during the period. Summit Trail Advisors LLC’s holdings in CVS Health were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the third quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the third quarter valued at approximately $32,000. First Community Trust NA lifted its position in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $59.02 on Wednesday. The business has a fifty day moving average of $59.26 and a two-hundred day moving average of $58.69. 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 stock has a market cap of $74.27 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.51%. CVS Health’s payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen raised their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday. Mizuho decreased their target price 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. UBS Group lifted their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Truist Financial reiterated a “buy” rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.33.

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.