Daymark Wealth Partners LLC Reduces Stake in CVS Health Co. (NYSE:CVS)

Daymark Wealth Partners LLC reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 70.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,537 shares of the pharmacy operator's stock after selling 64,160 shares during the quarter. Daymark Wealth Partners LLC's holdings in CVS Health were worth $1,191,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CVS. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the third quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the third quarter worth $31,000. Legacy Investment Solutions LLC purchased a new position in CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the 3rd quarter valued at $33,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 1.7 %

Shares of CVS stock traded up $0.88 on Thursday, reaching $53.87. 13,419,060 shares of the company's stock were exchanged, compared to its average volume of 13,974,458. The company's fifty day simple moving average is $51.23 and its 200 day simple moving average is $56.24. The stock has a market capitalization of $67.79 billion, a PE ratio of 13.67, a P/E/G ratio of 0.80 and a beta of 0.59. 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 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business's revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. As a group, analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.94%. CVS Health's dividend payout ratio is presently 67.51%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a research report on Monday, November 25th. StockNews.com lowered CVS Health from a "hold" rating to a "sell" rating in a research report on Thursday, November 14th. Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock 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.