Inlet Private Wealth LLC Boosts Position in CVS Health Co. (NYSE:CVS)

Inlet Private Wealth LLC raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,246 shares of the pharmacy operator’s stock after acquiring an additional 4,350 shares during the quarter. Inlet Private Wealth LLC’s holdings in CVS Health were worth $3,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Sound Income Strategies LLC grew its position 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 worth $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% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares during the period. Bruce G. Allen Investments LLC increased its position in CVS Health by 13.1% during the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after acquiring an additional 195 shares during the last quarter. Integrated Advisors Network LLC raised its position in CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $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% during 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 last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.5 %

Shares of NYSE CVS opened at $56.53 on Friday. 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 Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a market cap of $71.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59. The company’s 50-day simple moving average is $51.24 and its 200-day simple moving average is $56.17.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The company 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 firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 EPS. Equities analysts predict that CVS Health Co. will post 5.18 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared 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 is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVS. Evercore ISI raised their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, December 3rd. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.