CVS Health Co. (NYSE:CVS) Position Cut by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 94.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,558 shares of the pharmacy operator’s stock after selling 25,660 shares during the quarter. Strengthening Families & Communities LLC’s holdings in CVS Health were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth approximately $28,000. Bristlecone Advisors LLC grew its holdings in CVS Health by 4.3% in the 4th quarter. Bristlecone Advisors LLC now owns 10,788 shares of the pharmacy operator’s stock worth $484,000 after buying an additional 448 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in CVS Health in the fourth quarter worth approximately $111,000. Robinson Value Management Ltd. lifted its position in CVS Health by 8.3% in the fourth quarter. Robinson Value Management Ltd. now owns 33,083 shares of the pharmacy operator’s stock worth $1,485,000 after purchasing an additional 2,531 shares during the period. Finally, Stoneridge Investment Partners LLC lifted its position in CVS Health by 275.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 207,651 shares of the pharmacy operator’s stock worth $9,321,000 after purchasing an additional 152,296 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $54.24 on Tuesday. The company’s fifty day moving average is $50.79 and its two-hundred day moving average is $55.98. 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 Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a market cap of $68.26 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Truist Financial cut their target price 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. Barclays cut their target price 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. Mizuho cut their price objective 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. Finally, Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.