CVS Health Co. (NYSE:CVS) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 21.7% during the 4th quarter, HoldingsChannel reports. The firm owned 8,931 shares of the pharmacy operator’s stock after selling 2,471 shares during the quarter. Miracle Mile Advisors LLC’s holdings in CVS Health were worth $401,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CVS. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter worth $25,000. Ridgewood Investments LLC boosted its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the third quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the third quarter worth about $31,000. Finally, Reston Wealth Management LLC purchased a new position in CVS Health during the third quarter worth about $32,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Truist Financial lowered their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, Mizuho lowered their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

Shares of CVS opened at $52.15 on Thursday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock has a market capitalization of $65.63 billion, a PE ratio of 13.24, a PEG ratio of 0.85 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a 50-day simple moving average of $51.68 and a 200-day simple moving average of $56.44.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

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.