KMG Fiduciary Partners LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

KMG Fiduciary Partners LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,663 shares of the pharmacy operator’s stock after selling 4,227 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in CVS Health were worth $1,511,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $32,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS Health stock opened at $52.72 on Friday. The company’s fifty day moving average price is $51.39 and its 200 day moving average price is $56.36. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (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 firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter last year, the company earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 yield of 5.05%. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, December 3rd. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. TD Cowen increased their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Truist Financial cut their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $68.71.

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.