CVS Health Co. (NYSE:CVS) Position Lessened by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC trimmed its stake in CVS Health Co. (NYSE:CVS) by 81.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,475 shares of the pharmacy operator’s stock after selling 80,543 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in CVS Health were worth $829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC raised its holdings in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new position in CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health in the 3rd quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $54.71 on Friday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a 50-day moving average of $51.24 and a two-hundred day moving average of $56.21. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. On average, equities research analysts expect that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.86%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Tuesday, December 3rd. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Truist Financial decreased their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $68.71.

About CVS Health

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.