CVS Health Co. (NYSE:CVS) Position Trimmed by Naples Global Advisors LLC

Naples Global Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 37.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,892 shares of the pharmacy operator’s stock after selling 7,866 shares during the quarter. Naples Global Advisors LLC’s holdings in CVS Health were worth $579,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the third 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 purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth about $28,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of CVS Health during the third quarter worth approximately $31,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Piper Sandler reduced their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Royal Bank of Canada lowered 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. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.28.

CVS Health Trading Up 4.9 %

NYSE CVS opened at $66.35 on Friday. The firm’s fifty day simple moving average is $50.71 and its 200-day simple moving average is $55.94. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a market capitalization 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.

CVS Health (NYSE:CVS) last announced its quarterly 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 return on equity of 10.72% and a net margin of 1.36%. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 72.68%.

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.