Confluence Wealth Services Inc. Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Confluence Wealth Services Inc. decreased its position in CVS Health Co. (NYSE:CVS) by 51.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,118 shares of the pharmacy operator’s stock after selling 4,336 shares during the period. Confluence Wealth Services Inc.’s holdings in CVS Health were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB boosted its holdings in CVS Health by 124.1% in the 3rd quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock worth $3,882,000 after buying an additional 34,198 shares during the last quarter. Czech National Bank boosted its holdings in CVS Health by 7.2% in the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after buying an additional 17,206 shares during the last quarter. Brookstone Capital Management boosted its holdings in CVS Health by 4.6% in the 3rd quarter. Brookstone Capital Management now owns 62,589 shares of the pharmacy operator’s stock worth $3,936,000 after buying an additional 2,764 shares during the last quarter. CWM LLC boosted its holdings in CVS Health by 14.1% in the 3rd quarter. CWM LLC now owns 76,241 shares of the pharmacy operator’s stock worth $4,794,000 after buying an additional 9,435 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research analyst reports. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. UBS Group upped their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Barclays dropped their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Truist Financial dropped their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Mizuho dropped their price target 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Down 2.7 %

NYSE:CVS opened at $54.20 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $51.02 and its two-hundred day moving average is $56.04. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The stock has a market capitalization of $68.21 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly 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 analysts’ expectations of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 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.