Byrne Asset Management LLC Sells 2,545 Shares of CVS Health Co. (NYSE:CVS)

Byrne Asset Management LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,241 shares of the pharmacy operator’s stock after selling 2,545 shares during the period. Byrne Asset Management LLC’s holdings in CVS Health were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVS. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Piper Sandler decreased their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Mizuho lowered their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Stock Performance

NYSE CVS opened at $53.95 on Friday. The company’s 50 day moving average is $50.90 and its 200-day moving average is $56.02. The firm has a market cap of $67.90 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is presently 67.51%.

CVS Health 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.