Old North State Wealth Management LLC boosted its position in CVS Health Co. (NYSE:CVS - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,720 shares of the pharmacy operator's stock after purchasing an additional 10,865 shares during the period. CVS Health comprises approximately 2.1% of Old North State Wealth Management LLC's holdings, making the stock its 12th largest position. Old North State Wealth Management LLC's holdings in CVS Health were worth $3,717,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC boosted its stake in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the third quarter worth $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health during the third quarter worth $32,000. Hedge funds and other institutional investors own 80.66% of the company's stock.
CVS Health Trading Down 1.3 %
CVS stock traded down $0.73 during trading on Wednesday, reaching $55.62. 7,640,737 shares of the stock traded hands, compared to its average volume of 12,688,437. The firm has a market capitalization of $69.99 billion, a PE ratio of 14.12, a P/E/G ratio of 0.62 and a beta of 0.61. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business's 50 day moving average price is $51.11 and its 200-day moving average price is $56.06.
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, beating analysts' consensus estimates 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 analysts' expectations of $92.72 billion. During the same period in the previous year, the company posted $2.21 earnings per share. CVS Health's revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that CVS Health Co. will post 5.14 earnings per share for the current year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 4.78%. The ex-dividend date was Thursday, January 23rd. CVS Health's dividend payout ratio is presently 67.51%.
Analysts Set New Price Targets
CVS has been the subject of several research reports. TD Cowen lifted their price target on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Mizuho reduced their price target on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, November 15th. Finally, Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $68.12.
View Our Latest Stock Report on CVS Health
CVS Health Company Profile
(
Free Report)
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.
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