DAVENPORT & Co LLC Trims Position in CVS Health Co. (NYSE:CVS)

DAVENPORT & Co LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 31.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,619 shares of the pharmacy operator’s stock after selling 19,107 shares during the period. DAVENPORT & Co LLC’s holdings in CVS Health were worth $1,909,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in CVS Health in the 4th quarter worth about $17,709,000. Tokio Marine Asset Management Co. Ltd. raised its stake in CVS Health by 4.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,110 shares of the pharmacy operator’s stock valued at $1,576,000 after purchasing an additional 1,450 shares in the last quarter. Inlet Private Wealth LLC lifted its position in CVS Health by 6.8% during the fourth quarter. Inlet Private Wealth LLC now owns 68,246 shares of the pharmacy operator’s stock valued at $3,064,000 after purchasing an additional 4,350 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of CVS Health by 6.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 14,452 shares of the pharmacy operator’s stock worth $665,000 after buying an additional 832 shares during the last quarter. Finally, Waldron Private Wealth LLC lifted its holdings in shares of CVS Health by 4.9% during the 4th quarter. Waldron Private Wealth LLC now owns 7,346 shares of the pharmacy operator’s stock worth $330,000 after acquiring an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CVS shares. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. TD Cowen upped their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Performance

Shares of CVS opened at $55.62 on Thursday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The stock has a market cap of $69.99 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.62 and a beta of 0.61. The business has a 50-day simple moving average of $51.11 and a two-hundred day simple moving average of $56.06. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating 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 firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm earned $2.21 EPS. The company’s revenue was up 6.3% on a year-over-year basis. On average, analysts expect that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 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.