Blackston Financial Advisory Group LLC Sells 350 Shares of CVS Health Co. (NYSE:CVS)

Blackston Financial Advisory Group LLC lessened its position in shares of CVS Health Co. (NYSE:CVS) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,589 shares of the pharmacy operator’s stock after selling 350 shares during the period. Blackston Financial Advisory Group LLC’s holdings in CVS Health were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Deerfield Management Company L.P. Series C purchased a new position in shares of CVS Health in the second quarter worth about $57,584,000. CX Institutional grew its stake in CVS Health by 698.0% in the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after buying an additional 65,259 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after acquiring an additional 145,158 shares during the period. First Hawaiian Bank lifted its position in shares of CVS Health by 30.1% during the second quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after acquiring an additional 23,213 shares in the last quarter. Finally, Czech National Bank grew its position in shares of CVS Health by 7.2% in the third quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock valued at $16,124,000 after purchasing an additional 17,206 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $56.30 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a market capitalization of $70.68 billion, a P/E ratio of 9.86, a PEG ratio of 0.93 and a beta of 0.54. The stock has a 50 day moving average price of $59.88 and a two-hundred day moving average price of $60.17.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CVS shares. Wells Fargo & Company increased their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Truist Financial boosted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. 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. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research note on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $74.58.

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.