Thrivent Financial for Lutherans Sells 32,496 Shares of CVS Health Co. (NYSE:CVS)

Thrivent Financial for Lutherans lowered its position in shares of CVS Health Co. (NYSE:CVS) by 26.3% during the third quarter, HoldingsChannel reports. The fund owned 91,055 shares of the pharmacy operator’s stock after selling 32,496 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CVS Health were worth $5,726,000 at the end of the most recent reporting period.

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

CVS Health Stock Up 1.6 %

Shares of NYSE:CVS opened at $58.01 on Friday. The stock has a market cap of $73.00 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.96 and a beta of 0.55. The business’s 50 day moving average is $59.21 and its 200 day moving average is $58.61. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Wall Street Analyst Weigh In

Several brokerages have commented on CVS. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a research report on Wednesday. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.28.

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.