Folger Nolan Fleming Douglas Capital Management Inc. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 16.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,741 shares of the pharmacy operator’s stock after selling 1,123 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in CVS Health were worth $258,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC lifted its holdings in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of CVS Health by 13.1% in the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after acquiring an additional 195 shares during the period. Integrated Advisors Network LLC raised its holdings in shares of CVS Health by 0.7% during the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. lifted its position in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE CVS opened at $52.72 on Friday. The business has a 50-day moving average price of $51.39 and a 200-day moving average price of $56.36. The firm has a market cap of $66.35 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. 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 announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVS shares. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Piper Sandler reduced their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Finally, TD Cowen increased their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.71.

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.