CVS Health Co. (NYSE:CVS) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 23.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 379,462 shares of the pharmacy operator’s stock after selling 113,041 shares during the period. Pinnacle Financial Partners Inc’s holdings in CVS Health were worth $23,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter worth $31,000. Crewe Advisors LLC purchased a new stake in CVS Health in the 1st quarter worth approximately $40,000. Reston Wealth Management LLC acquired a new position in CVS Health in the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health in the third quarter valued at approximately $33,000. Finally, First Community Trust NA boosted its holdings in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 3.2 %

Shares of CVS Health stock opened at $54.04 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a market capitalization of $68.00 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.97 and a beta of 0.55. The business has a 50-day moving average of $59.47 and a two-hundred day moving average of $58.88. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that CVS Health Co. will post 5.44 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.92%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is 67.51%.

Analyst Ratings Changes

Several research firms recently issued reports on CVS. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Barclays cut their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, UBS Group increased their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.