Asset Dedication LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Asset Dedication LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 25.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,619 shares of the pharmacy operator’s stock after selling 560 shares during the period. Asset Dedication LLC’s holdings in CVS Health were worth $73,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of CVS Health during the fourth quarter worth about $186,000. Stonegate Investment Group LLC lifted its position in CVS Health by 14.5% during the 4th quarter. Stonegate Investment Group LLC now owns 9,096 shares of the pharmacy operator’s stock worth $408,000 after acquiring an additional 1,151 shares during the period. VCI Wealth Management LLC increased its holdings in shares of CVS Health by 52.5% in the fourth quarter. VCI Wealth Management LLC now owns 30,885 shares of the pharmacy operator’s stock valued at $1,386,000 after purchasing an additional 10,630 shares during the period. Canal Insurance CO raised its stake in shares of CVS Health by 15.0% during the fourth quarter. Canal Insurance CO now owns 230,000 shares of the pharmacy operator’s stock worth $10,325,000 after purchasing an additional 30,000 shares during the last quarter. Finally, CKW Financial Group lifted its holdings in shares of CVS Health by 9.1% during the fourth quarter. CKW Financial Group now owns 3,600 shares of the pharmacy operator’s stock worth $162,000 after purchasing an additional 300 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 0.1 %

Shares of NYSE:CVS opened at $56.84 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market capitalization of $71.53 billion, a P/E ratio of 14.43, a P/E/G ratio of 0.80 and a beta of 0.59. The stock’s fifty day simple moving average is $51.28 and its 200-day simple moving average is $56.17. 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 released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

A number of brokerages have commented on CVS. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial cut their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada dropped their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Evercore ISI raised their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

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.