CVS Health Co. (NYSE:CVS) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC decreased its stake in CVS Health Co. (NYSE:CVS) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,741 shares of the pharmacy operator’s stock after selling 9,108 shares during the period. Stablepoint Partners LLC’s holdings in CVS Health were worth $3,445,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Flagship Harbor Advisors LLC increased its position in shares of CVS Health by 9.0% during the fourth quarter. Flagship Harbor Advisors LLC now owns 31,456 shares of the pharmacy operator’s stock worth $1,412,000 after purchasing an additional 2,603 shares in the last quarter. apricus wealth LLC increased its position in CVS Health by 2.1% during the fourth quarter. apricus wealth LLC now owns 37,055 shares of the pharmacy operator’s stock worth $1,663,000 after buying an additional 765 shares during the period. Exchange Traded Concepts LLC lifted its stake in CVS Health by 17.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,514 shares of the pharmacy operator’s stock valued at $786,000 after buying an additional 2,661 shares during the last quarter. CX Institutional grew its position in shares of CVS Health by 35.1% during the fourth quarter. CX Institutional now owns 100,787 shares of the pharmacy operator’s stock worth $4,524,000 after acquiring an additional 26,178 shares during the last quarter. Finally, Southland Equity Partners LLC increased its holdings in shares of CVS Health by 44.0% in the 4th quarter. Southland Equity Partners LLC now owns 4,985 shares of the pharmacy operator’s stock valued at $224,000 after acquiring an additional 1,523 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS stock opened at $54.71 on Friday. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 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 50 day moving average of $51.24 and a 200-day moving average of $56.21. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

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

CVS Health Dividend Announcement

The firm 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 $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Royal Bank of Canada lowered their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. UBS Group increased their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Finally, Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.