Perfromance Wealth Partners LLC Takes $475,000 Position in CVS Health Co. (NYSE:CVS)

Perfromance Wealth Partners LLC acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,590 shares of the pharmacy operator’s stock, valued at approximately $475,000.

A number of other hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the third quarter worth $25,000. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the third quarter valued at $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter valued at $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.0 %

CVS opened at $53.14 on Wednesday. The company’s 50 day moving average is $51.27 and its 200-day moving average is $56.29. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a market cap of $66.87 billion, a P/E ratio of 13.49, a PEG ratio of 0.79 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.01%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVS. UBS Group upped their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial decreased their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Barclays dropped 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 note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

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.