City Center Advisors LLC Has $353,000 Stock Position in CVS Health Co. (NYSE:CVS)

City Center Advisors LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 31.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,868 shares of the pharmacy operator’s stock after selling 3,678 shares during the quarter. City Center Advisors LLC’s holdings in CVS Health were worth $353,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of CVS Health by 3.0% in the second quarter. American Century Companies Inc. now owns 968,121 shares of the pharmacy operator’s stock valued at $57,177,000 after buying an additional 28,250 shares during the period. Federated Hermes Inc. lifted its position in shares of CVS Health by 74.9% in the 2nd quarter. Federated Hermes Inc. now owns 501,984 shares of the pharmacy operator’s stock worth $29,647,000 after acquiring an additional 215,024 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of CVS Health by 141.6% during the 2nd quarter. Zions Bancorporation N.A. now owns 4,074 shares of the pharmacy operator’s stock worth $241,000 after purchasing an additional 2,388 shares in the last quarter. 1ST Source Bank increased its position in shares of CVS Health by 9.5% during the second quarter. 1ST Source Bank now owns 15,151 shares of the pharmacy operator’s stock valued at $895,000 after purchasing an additional 1,316 shares during the period. Finally, Thoroughbred Financial Services LLC raised its stake in shares of CVS Health by 31.8% in the second quarter. Thoroughbred Financial Services LLC now owns 4,007 shares of the pharmacy operator’s stock valued at $236,000 after purchasing an additional 967 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVS shares. 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 research note on Tuesday, December 3rd. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Truist Financial dropped their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Trading Up 4.3 %

Shares of NYSE CVS opened at $48.00 on Monday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. 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 company has a 50-day moving average of $51.82 and a two-hundred day moving average of $56.55. The company has a market cap of $60.40 billion, a PE ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 EPS. As a group, equities analysts expect that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.54%. CVS Health’s dividend payout ratio is currently 67.51%.

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.