L.M. Kohn & Company Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

L.M. Kohn & Company reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 25.2% during the third quarter, Holdings Channel reports. The firm owned 10,217 shares of the pharmacy operator’s stock after selling 3,451 shares during the quarter. L.M. Kohn & Company’s holdings in CVS Health were worth $642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the third quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $32,000. First Community Trust NA grew its position in shares of CVS Health by 116.2% in 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 during the period. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health in the 3rd quarter worth about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS opened at $59.82 on Friday. The firm has a market cap of $75.28 billion, a PE ratio of 15.18, a P/E/G ratio of 1.02 and a beta of 0.55. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $59.36 and a two-hundred day simple moving average of $58.74.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share. On average, equities analysts anticipate that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.45%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen raised their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health 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.