Grimes & Company Inc. Sells 260,312 Shares of CVS Health Co. (NYSE:CVS)

Grimes & Company Inc. lessened its position in shares of CVS Health Co. (NYSE:CVS) by 96.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,041 shares of the pharmacy operator’s stock after selling 260,312 shares during the period. Grimes & Company Inc.’s holdings in CVS Health were worth $451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC lifted its stake 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 last quarter. Livelsberger Financial Advisory bought a new position in CVS Health in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the 3rd quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter valued at approximately $32,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research reports. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Evercore ISI upped their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen upped their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Truist Financial decreased 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. One equities research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Up 1.6 %

Shares of NYSE CVS opened at $54.71 on Friday. The firm 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 12-month low of $43.56 and a 12-month high of $80.75. The company’s fifty day simple moving average is $51.24 and its 200 day simple moving average is $56.21. 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 issued 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. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 earnings per share. As a group, sell-side analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend 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.