SOL Capital Management CO Purchases 8,648 Shares of CVS Health Co. (NYSE:CVS)

SOL Capital Management CO lifted its stake in CVS Health Co. (NYSE:CVS - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,790 shares of the pharmacy operator's stock after purchasing an additional 8,648 shares during the period. SOL Capital Management CO's holdings in CVS Health were worth $3,582,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in CVS Health during the 2nd quarter valued at about $63,000. Sanctuary Advisors LLC purchased a new position in shares of CVS Health during the 2nd quarter worth approximately $8,005,000. Newbridge Financial Services Group Inc. raised its position in shares of CVS Health by 82.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,096 shares of the pharmacy operator's stock worth $242,000 after purchasing an additional 1,852 shares during the last quarter. Mattson Financial Services LLC purchased a new stake in CVS Health in the 2nd quarter valued at approximately $1,014,000. Finally, AMF Tjanstepension AB increased its position in CVS Health by 124.1% during the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator's stock worth $3,882,000 after buying an additional 34,198 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVS. Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Truist Financial decreased their target price on shares of CVS Health from $67.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. 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. Finally, Royal Bank of Canada lowered 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.12.

CVS Health Stock Down 0.1 %

NYSE:CVS traded down $0.03 during trading hours on Friday, hitting $56.79. The stock had a trading volume of 3,037,272 shares, compared to its average volume of 12,984,373. The company has a market cap of $71.47 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59. The business has a 50 day simple moving average of $51.27 and a two-hundred day simple moving average of $56.17. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. 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 (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping 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 analyst estimates of $92.72 billion. During the same quarter in the previous year, the business posted $2.21 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. Analysts predict that CVS Health Co. will post 5.18 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) 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.