Ingalls & Snyder LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Ingalls & Snyder LLC cut its position in CVS Health Co. (NYSE:CVS) by 35.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,776 shares of the pharmacy operator’s stock after selling 9,660 shares during the quarter. Ingalls & Snyder LLC’s holdings in CVS Health were worth $798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter valued at $25,000. Ridgewood Investments LLC boosted its stake in 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. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter valued at $28,000. Livelsberger Financial Advisory bought a new position in CVS Health during the 3rd quarter valued at $31,000. Finally, Legacy Investment Solutions LLC bought a new position in CVS Health during the 3rd quarter valued at $31,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on CVS shares. TD Cowen increased their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays increased their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial raised their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $75.00 in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $70.28.

CVS Health Stock Up 4.9 %

CVS stock opened at $66.35 on Friday. The stock has a market cap of $83.49 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. 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 firm’s 50-day simple moving average is $50.71 and its 200 day simple moving average is $55.94. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, sell-side analysts predict that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.01%. CVS Health’s payout ratio is 72.68%.

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.