CVS Health Co. (NYSE:CVS) Shares Sold by Asset Dedication LLC

Asset Dedication LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 25.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,619 shares of the pharmacy operator’s stock after selling 560 shares during the period. Asset Dedication LLC’s holdings in CVS Health were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health in the third quarter worth about $25,000. Livelsberger Financial Advisory purchased a new stake in CVS Health during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the third quarter worth $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.1 %

Shares of CVS Health stock opened at $56.84 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a market capitalization of $71.53 billion, a P/E ratio of 14.43, a PEG ratio of 0.80 and a beta of 0.59. The business’s fifty day moving average price is $51.28 and its two-hundred day moving average price is $56.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio 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 for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.21 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.68%. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CVS shares. Barclays decreased their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial cut their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

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.