Beta Wealth Group Inc. Sells 39,542 Shares of CVS Health Co. (NYSE:CVS)

Beta Wealth Group Inc. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 84.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,421 shares of the pharmacy operator’s stock after selling 39,542 shares during the quarter. Beta Wealth Group Inc.’s holdings in CVS Health were worth $333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Integrated Advisors Network LLC lifted its position 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 worth $1,737,000 after acquiring an additional 200 shares during the period. Widmann Financial Services Inc. grew its position 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 valued at $724,000 after buying an additional 200 shares during the last quarter. DT Investment Partners LLC increased its stake in CVS Health by 7.8% in the 3rd quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock valued at $175,000 after buying an additional 202 shares during the period. Manchester Capital Management LLC raised its position in CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after buying an additional 204 shares during the last quarter. Finally, Rogco LP lifted its stake in shares of CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 1.0 %

Shares of CVS stock opened at $65.71 on Tuesday. The company has a market capitalization of $82.84 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. 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 50-day moving average price of $51.11 and a 200 day moving average price of $55.99. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Research analysts forecast that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.05%. CVS Health’s dividend payout ratio is presently 72.68%.

Analyst Upgrades and Downgrades

CVS has been the subject of several analyst reports. Barclays increased their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. UBS Group dropped their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.28.

About CVS Health

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.