Lynch & Associates IN Has $889,000 Stake in CVS Health Co. (NYSE:CVS)

Lynch & Associates IN decreased its holdings in CVS Health Co. (NYSE:CVS) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,807 shares of the pharmacy operator’s stock after selling 6,088 shares during the quarter. Lynch & Associates IN’s holdings in CVS Health were worth $889,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the 3rd quarter worth about $25,000. Ridgewood Investments LLC increased its position in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Livelsberger Financial Advisory bought a new stake in CVS Health during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the 3rd quarter valued at about $31,000. Finally, Reston Wealth Management LLC acquired a new stake in CVS Health during the 3rd quarter worth $32,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 4.3 %

Shares of NYSE:CVS traded up $1.99 on Friday, hitting $48.00. 16,782,035 shares of the company traded hands, compared to its average volume of 13,384,324. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The stock has a 50 day simple moving average of $51.98 and a 200-day simple moving average of $56.68. The company has a market cap of $60.40 billion, a PE ratio of 12.18, a PEG ratio of 0.85 and a beta of 0.59. 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 posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. As a group, research analysts expect that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The business 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 yield of 5.54%. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CVS shares. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Piper Sandler dropped their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, UBS Group lifted their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.71.

About CVS Health

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.