Janney Montgomery Scott LLC Trims Stock Position in CVS Health Co. (NYSE:CVS)

Janney Montgomery Scott LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 258,942 shares of the pharmacy operator’s stock after selling 79,297 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CVS Health were worth $11,624,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of CVS Health by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,017,106 shares of the pharmacy operator’s stock valued at $60,070,000 after acquiring an additional 31,966 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its holdings in CVS Health by 71.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 247 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC boosted its stake in shares of CVS Health by 1.8% during the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 50,384 shares of the pharmacy operator’s stock worth $2,976,000 after acquiring an additional 874 shares in the last quarter. Ascent Group LLC increased its position in shares of CVS Health by 14.6% in the second quarter. Ascent Group LLC now owns 20,188 shares of the pharmacy operator’s stock valued at $1,192,000 after buying an additional 2,578 shares in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new position in CVS Health during the 2nd quarter valued at about $795,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $54.71 on Monday. 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 firm’s 50-day moving average is $51.24 and its 200-day moving average is $56.21. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 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 period last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 5.22 earnings per share 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 given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. CVS Health’s dividend payout ratio is 67.51%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CVS shares. Mizuho dropped their price objective 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. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial dropped their price objective 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. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.71.

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.