Interchange Capital Partners LLC Sells 959 Shares of CVS Health Co. (NYSE:CVS)

Interchange Capital Partners LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,693 shares of the pharmacy operator’s stock after selling 959 shares during the period. Interchange Capital Partners LLC’s holdings in CVS Health were worth $861,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVS. Livelsberger Financial Advisory acquired a new stake in CVS Health during the 3rd quarter valued at $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health in the third quarter valued at about $32,000. First Community Trust NA lifted its position in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the 3rd quarter worth about $33,000. Finally, ORG Partners LLC increased its position in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.8 %

Shares of CVS traded up $0.44 on Friday, hitting $56.90. The company’s stock had a trading volume of 1,630,496 shares, compared to its average volume of 11,118,508. The firm’s fifty day moving average price is $59.70 and its 200-day moving average price is $59.65. 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 quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $71.58 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.83 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.67%. CVS Health’s dividend payout ratio (DPR) is 47.33%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVS. Evercore ISI upped their target price on shares of 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 reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company boosted 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.58.

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.