Amalgamated Bank Cuts Position in CVS Health Co. (NYSE:CVS)

Amalgamated Bank reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 249,287 shares of the pharmacy operator’s stock after selling 4,834 shares during the period. Amalgamated Bank’s holdings in CVS Health were worth $15,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Norden Group LLC raised its position in shares of CVS Health by 10.7% during the 1st quarter. Norden Group LLC now owns 6,830 shares of the pharmacy operator’s stock worth $545,000 after purchasing an additional 660 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of CVS Health during the first quarter valued at $536,000. Commerce Bank boosted its holdings in shares of CVS Health by 2.1% in the 1st quarter. Commerce Bank now owns 73,854 shares of the pharmacy operator’s stock valued at $5,891,000 after purchasing an additional 1,512 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of CVS Health during the 1st quarter worth $227,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of CVS Health in the 1st quarter worth $1,882,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS opened at $55.33 on Wednesday. The company has a market capitalization of $69.60 billion, a P/E ratio of 9.85, a PEG ratio of 0.82 and a beta of 0.55. The company has a 50-day moving average of $59.51 and a 200-day moving average of $59.29. 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 1-year low of $52.77 and a 1-year high of $83.25.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is presently 47.33%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Truist Financial raised their target price 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. Barclays decreased their price target on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $73.11.

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.