WFA Asset Management Corp Trims Stake in CVS Health Co. (NYSE:CVS)

WFA Asset Management Corp lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 18.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,323 shares of the pharmacy operator’s stock after selling 297 shares during the period. WFA Asset Management Corp’s holdings in CVS Health were worth $59,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Sound Income Strategies LLC grew its position in CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of CVS Health by 3.5% in the third 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 last quarter. Bruce G. Allen Investments LLC increased its stake in CVS Health by 13.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after buying an additional 195 shares during the period. Integrated Advisors Network LLC lifted its holdings 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 buying an additional 200 shares in the last quarter. Finally, Widmann Financial Services Inc. grew its stake in 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 in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.5 %

Shares of NYSE:CVS opened at $56.53 on Friday. The business has a 50-day moving average price of $51.24 and a 200-day moving average price of $56.16. The stock has a market cap of $71.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.62 and a beta of 0.59. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. 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 quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. Equities analysts predict that CVS Health Co. will post 5.18 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a $0.665 dividend. 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 4.71%. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

A number of analysts recently issued reports on CVS shares. UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI increased their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial dropped their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.