Hartford Financial Management Inc. Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Hartford Financial Management Inc. cut its stake in CVS Health Co. (NYSE:CVS) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 32,817 shares of the pharmacy operator’s stock after selling 1,780 shares during the period. Hartford Financial Management Inc.’s holdings in CVS Health were worth $1,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mediolanum International Funds Ltd grew its holdings in CVS Health by 75.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 23,111 shares of the pharmacy operator’s stock valued at $1,013,000 after purchasing an additional 9,917 shares during the last quarter. SOL Capital Management CO grew its stake in shares of CVS Health by 12.2% during the fourth quarter. SOL Capital Management CO now owns 79,790 shares of the pharmacy operator’s stock valued at $3,582,000 after buying an additional 8,648 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of CVS Health in the fourth quarter worth approximately $369,000. Swedbank AB lifted its stake in shares of CVS Health by 1.2% during the 4th quarter. Swedbank AB now owns 1,405,812 shares of the pharmacy operator’s stock worth $63,107,000 after acquiring an additional 16,923 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in CVS Health by 20.1% during the 4th quarter. Hantz Financial Services Inc. now owns 2,416 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 404 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CVS shares. TD Cowen lifted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial dropped their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. 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 company. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Trading Down 0.1 %

NYSE:CVS opened at $56.84 on Friday. The company has a market capitalization of $71.53 billion, a P/E ratio of 14.43, a PEG ratio of 0.62 and a beta of 0.59. 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 simple moving average of $51.28 and a 200-day simple moving average of $56.17. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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 business 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 company earned $2.21 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that CVS Health Co. will post 5.18 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. Stockholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. CVS Health’s payout ratio is currently 67.51%.

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.