Ridgewood Investments LLC Raises Stake in CVS Health Co. (NYSE:CVS)

Ridgewood Investments LLC lifted its stake in CVS Health Co. (NYSE:CVS) by 255.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 626 shares of the pharmacy operator’s stock after buying an additional 450 shares during the quarter. Ridgewood Investments LLC’s holdings in CVS Health were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after buying an additional 461,569 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. TD Cowen boosted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. UBS Group boosted their price target 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. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Truist Financial reduced their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 4.3 %

Shares of CVS opened at $48.00 on Friday. The firm has a market capitalization of $60.40 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 0.59. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $51.82 and a 200-day moving average price of $56.62.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates 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 was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. Equities research analysts expect that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.54%. 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.