Premier Path Wealth Partners LLC Sells 969 Shares of CVS Health Co. (NYSE:CVS)

Premier Path Wealth Partners LLC cut its position in shares of CVS Health Co. (NYSE:CVS) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,162 shares of the pharmacy operator’s stock after selling 969 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in CVS Health were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the third quarter worth $25,000. Ridgewood Investments LLC grew its holdings in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter valued at about $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health during the 3rd quarter worth about $32,000. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVS has been the subject of a number of research reports. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Barclays reduced their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial reduced their price target on 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 investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Trading Up 1.5 %

NYSE:CVS opened at $52.72 on Friday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The business has a 50 day moving average price of $51.39 and a two-hundred day moving average price of $56.36. The company has a market cap of $66.35 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59. 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 posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the company earned $2.21 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company 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 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 dividend yield of 5.05%. CVS Health’s dividend payout ratio (DPR) is currently 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.