Graypoint LLC Raises Stock Holdings in CVS Health Co. (NYSE:CVS)

Graypoint LLC grew its stake in CVS Health Co. (NYSE:CVS) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,187 shares of the pharmacy operator’s stock after buying an additional 683 shares during the quarter. Graypoint LLC’s holdings in CVS Health were worth $233,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health in the third quarter worth approximately $25,000. Ridgewood Investments LLC boosted its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the 3rd quarter worth $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the 3rd quarter worth about $31,000. Finally, Reston Wealth Management LLC acquired a new stake in CVS Health during the 3rd quarter worth about $32,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. 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 report on Monday, January 6th. Finally, Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

NYSE CVS opened at $48.00 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 0.59. The company’s fifty day moving average is $51.82 and its two-hundred day moving average is $56.55. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly 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. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the business posted $2.21 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared 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. This represents a $2.66 annualized dividend and a yield of 5.54%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 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.