Stablepoint Partners LLC Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Stablepoint Partners LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,741 shares of the pharmacy operator’s stock after selling 9,108 shares during the quarter. Stablepoint Partners LLC’s holdings in CVS Health were worth $3,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares in the last quarter. Cullinan Associates Inc. lifted its stake in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the period. Principal Financial Group Inc. boosted its holdings in CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after buying an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its holdings in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of analyst reports. Mizuho dropped their target price 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. Barclays reduced their price target 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 increased their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Price Performance

Shares of NYSE CVS opened at $54.71 on Friday. The stock’s 50-day moving average is $51.24 and its two-hundred day moving average is $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 company has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

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, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Announces Dividend

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

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.