CVS Health Co. (NYSE:CVS) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its stake in CVS Health Co. (NYSE:CVS) by 23.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,504 shares of the pharmacy operator’s stock after selling 449 shares during the quarter. Park Place Capital Corp’s holdings in CVS Health were worth $68,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Sound Income Strategies LLC grew its position in shares of CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in 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 purchasing an additional 178 shares during the period. Bruce G. Allen Investments LLC boosted its stake in CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after purchasing an additional 195 shares during the period. Integrated Advisors Network LLC boosted its stake in CVS Health by 0.7% during the 3rd 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 period. Finally, Widmann Financial Services Inc. lifted its stake in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVS shares. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group boosted their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Performance

Shares of CVS stock opened at $53.05 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. 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 $66.76 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The company’s 50 day moving average price is $51.26 and its two-hundred day moving average price is $56.26.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.21 earnings per share. On average, analysts expect 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. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.01%. CVS Health’s payout ratio is 67.51%.

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.