CVS Health Co. (NYSE:CVS) Holdings Cut by Strategic Investment Advisors MI

Strategic Investment Advisors MI reduced its position in shares of CVS Health Co. (NYSE:CVS) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,272 shares of the pharmacy operator’s stock after selling 456 shares during the period. Strategic Investment Advisors MI’s holdings in CVS Health were worth $371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the 3rd quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health during the third quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health in the third quarter worth approximately $33,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $56.20 on Tuesday. The business has a 50-day moving average of $51.24 and a two-hundred day moving average of $56.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock has a market capitalization of $70.72 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.80 and a beta of 0.59.

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

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Truist Financial decreased their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

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.