Tranquility Partners LLC Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

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Tranquility Partners LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 21.8% in the 3rd quarter, Holdings Channel reports. The firm owned 5,002 shares of the pharmacy operator’s stock after selling 1,395 shares during the period. Tranquility Partners LLC’s holdings in CVS Health were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its stake in shares of CVS Health by 19.4% in the 1st quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock valued at $1,224,919,000 after acquiring an additional 3,352,364 shares in the last quarter. FDx Advisors Inc. boosted its position in CVS Health by 99.3% in the second quarter. FDx Advisors Inc. now owns 25,345 shares of the pharmacy operator’s stock worth $1,647,000 after purchasing an additional 12,625 shares during the last quarter. CWM LLC boosted its position in CVS Health by 25.6% in the second quarter. CWM LLC now owns 7,507 shares of the pharmacy operator’s stock worth $488,000 after purchasing an additional 1,531 shares during the last quarter. Cohen Lawrence B boosted its position in CVS Health by 0.9% in the second quarter. Cohen Lawrence B now owns 52,765 shares of the pharmacy operator’s stock worth $3,428,000 after purchasing an additional 455 shares during the last quarter. Finally, Rosenbaum Jay D. raised its stake in shares of CVS Health by 5.2% in the second quarter. Rosenbaum Jay D. now owns 8,075 shares of the pharmacy operator’s stock worth $524,000 after buying an additional 400 shares during the period. 68.47% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on the company. SVB Leerink lifted their target price on CVS Health from $72.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Piper Sandler lifted their price objective on CVS Health from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 11th. Credit Suisse Group lifted their price objective on CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CVS Health in a research note on Monday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and an average target price of $82.43.

CVS traded up $0.33 during trading hours on Friday, reaching $66.39. 8,825,118 shares of the company’s stock traded hands, compared to its average volume of 8,925,396. The firm has a 50-day moving average price of $61.50 and a 200 day moving average price of $62.70. CVS Health Co. has a 52-week low of $52.04 and a 52-week high of $77.03. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $86.90 billion, a PE ratio of 10.97, a PEG ratio of 1.68 and a beta of 0.69.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.33. The business had revenue of $67.05 billion during the quarter, compared to analyst estimates of $66.54 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. CVS Health’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. Equities analysts predict that CVS Health Co. will post 7.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.

In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of CVS Health stock in a transaction on Friday, November 13th. The stock was sold at an average price of $70.00, for a total transaction of $499,660.00. Following the completion of the sale, the executive vice president now directly owns 8,023 shares of the company’s stock, valued at approximately $561,610. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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