Patton Albertson Miller Group LLC Has $829,000 Stock Position in CVS Health Co. (NYSE:CVS)

Patton Albertson Miller Group LLC reduced its position in CVS Health Co. (NYSE:CVS) by 81.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,475 shares of the pharmacy operator’s stock after selling 80,543 shares during the period. Patton Albertson Miller Group LLC’s holdings in CVS Health were worth $829,000 at the end of the most recent quarter.

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

CVS Health Stock Performance

CVS opened at $54.71 on Friday. The stock has a market cap of $68.84 billion, a PE ratio of 13.88, a P/E/G ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock’s 50 day simple moving average is $51.24 and its 200-day simple moving average is $56.21. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.86%. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays reduced their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, 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 report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price 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.