Diversify Advisory Services LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Diversify Advisory Services LLC cut its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 67.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,274 shares of the pharmacy operator's stock after selling 19,027 shares during the quarter. Diversify Advisory Services LLC's holdings in CVS Health were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth approximately $25,000. Ridgewood Investments LLC boosted its position in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after buying an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in CVS Health in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the 3rd quarter worth about $31,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the 3rd quarter valued at about $32,000. Institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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. Royal Bank of Canada reduced their price objective on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, November 15th. Cantor Fitzgerald reissued a "neutral" rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Mizuho lowered 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. Finally, Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and an average target price of $68.71.

CVS Health Price Performance

CVS Health stock traded up $0.88 during midday trading on Thursday, reaching $53.87. 13,419,060 shares of the stock traded hands, compared to its average volume of 13,974,458. 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 Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock's fifty day moving average is $51.23 and its 200-day moving average is $56.24. The stock has a market cap of $67.79 billion, a P/E ratio of 13.67, a PEG ratio of 0.80 and a beta of 0.59.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Thursday, January 23rd. CVS Health's payout ratio is currently 67.51%.

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.