Chicago Partners Investment Group LLC trimmed its stake in CVS Health Corp (NYSE:CVS) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,249 shares of the pharmacy operator’s stock after selling 313 shares during the period. Chicago Partners Investment Group LLC’s holdings in CVS Health were worth $868,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. Griffin Asset Management Inc. grew its stake in CVS Health by 1.4% during the 3rd quarter. Griffin Asset Management Inc. now owns 11,438 shares of the pharmacy operator’s stock worth $900,000 after buying an additional 160 shares during the last quarter. Visionary Asset Management Inc. grew its stake in CVS Health by 3.8% during the 4th quarter. Visionary Asset Management Inc. now owns 4,911 shares of the pharmacy operator’s stock worth $322,000 after buying an additional 178 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in CVS Health by 71.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after buying an additional 212 shares during the last quarter. Meristem Family Wealth LLC grew its stake in CVS Health by 9.1% during the 3rd quarter. Meristem Family Wealth LLC now owns 3,470 shares of the pharmacy operator’s stock worth $273,000 after buying an additional 290 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in CVS Health by 3.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 11,599 shares of the pharmacy operator’s stock worth $913,000 after buying an additional 389 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on CVS. ValuEngine upgraded CVS Health from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Loop Capital set a $80.00 target price on CVS Health and gave the stock a “hold” rating in a research note on Wednesday, November 28th. Cantor Fitzgerald restated a “buy” rating and set a $96.00 target price on shares of CVS Health in a research note on Thursday, January 3rd. Bank of America restated a “buy” rating and set a $92.00 target price on shares of CVS Health in a research note on Thursday, January 3rd. Finally, Royal Bank of Canada set a $100.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $91.98.
CVS Health stock opened at $65.81 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.94 and a debt-to-equity ratio of 1.66. The stock has a market cap of $67.28 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.79 and a beta of 1.12. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $83.88.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The business had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. On average, research analysts forecast that CVS Health Corp will post 7.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 4th. Stockholders of record on Friday, January 25th will be issued a $0.50 dividend. The ex-dividend date is Thursday, January 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.04%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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