Wedmont Private Capital Trims Stake in CVS Health Co. (NYSE:CVS)

Wedmont Private Capital decreased its position in shares of CVS Health Co. (NYSE:CVS) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,403 shares of the pharmacy operator’s stock after selling 2,577 shares during the period. Wedmont Private Capital’s holdings in CVS Health were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its stake in CVS Health by 10.9% in the fourth quarter. Brookstone Capital Management now owns 69,420 shares of the pharmacy operator’s stock valued at $3,116,000 after purchasing an additional 6,831 shares during the period. Czech National Bank lifted its position in CVS Health by 6.4% during the 4th quarter. Czech National Bank now owns 272,854 shares of the pharmacy operator’s stock worth $12,248,000 after acquiring an additional 16,424 shares during the period. Graypoint LLC grew its stake in shares of CVS Health by 15.2% in the 4th quarter. Graypoint LLC now owns 5,187 shares of the pharmacy operator’s stock valued at $233,000 after purchasing an additional 683 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of CVS Health by 255.7% in the fourth 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 period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CVS Health by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 173,643 shares of the pharmacy operator’s stock worth $7,795,000 after purchasing an additional 2,256 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.1 %

Shares of NYSE CVS opened at $52.15 on Thursday. 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 has a market capitalization of $65.63 billion, a PE ratio of 13.24, a P/E/G ratio of 0.85 and a beta of 0.59. The firm has a fifty day moving average of $51.68 and a 200-day moving average of $56.44. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating 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 return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. On average, analysts anticipate that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.10%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analyst Ratings Changes

Several analysts have recently commented on CVS shares. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Company 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.