Metropolitan Life Insurance Co NY Sells 1,566 Shares of CVS Health Co. (NYSE:CVS)

Metropolitan Life Insurance Co NY lessened its stake in CVS Health Co. (NYSE:CVS) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,869 shares of the pharmacy operator’s stock after selling 1,566 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in CVS Health were worth $3,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Live Oak Investment Partners bought a new stake in CVS Health during the 4th quarter worth about $25,000. True Wealth Design LLC acquired a new position in CVS Health in the fourth quarter valued at approximately $48,000. 25 LLC acquired a new stake in CVS Health during the 1st quarter worth $39,000. Northwest Capital Management Inc bought a new stake in shares of CVS Health during the 2nd quarter valued at $44,000. Finally, Glass Jacobson Investment Advisors llc acquired a new position in CVS Health in the second quarter valued at about $48,000. 75.99% of the stock is owned by institutional investors.

CVS Health Price Performance

NYSE CVS opened at $68.26 on Tuesday. The firm’s 50 day moving average is $69.86 and its 200-day moving average is $70.00. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $87.84 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $104.83.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 EPS for the quarter, topping the consensus estimate of $2.13 by $0.08. The firm had revenue of $89.76 billion for the quarter, compared to analysts’ expectations of $88.29 billion. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 EPS. Equities research analysts anticipate that CVS Health Co. will post 8.59 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 20th were paid a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, October 19th. CVS Health’s dividend payout ratio is currently 36.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler lowered their price target on CVS Health from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, September 1st. StockNews.com upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Monday. Raymond James lowered their price objective on shares of CVS Health from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Wolfe Research upgraded CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Tuesday, September 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Thursday, September 14th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $92.59.

Insider Activity

In other news, Director Edward J. Ludwig acquired 2,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $70.47 per share, with a total value of $140,940.00. Following the transaction, the director now directly owns 20,630 shares in the company, valued at approximately $1,453,796.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

About CVS Health

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.