CVS Health Co. (NYSE:CVS) Stock Position Reduced by Westside Investment Management Inc.

Westside Investment Management Inc. cut its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 23.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,083 shares of the pharmacy operator's stock after selling 15,434 shares during the quarter. Westside Investment Management Inc.'s holdings in CVS Health were worth $2,203,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC lifted its stake in CVS Health by 255.7% in 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 acquired a new position in shares of CVS Health during the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the third quarter worth about $31,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth about $32,000. Institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of NYSE CVS traded down $0.10 during mid-day trading on Wednesday, reaching $53.05. The company had a trading volume of 10,665,483 shares, compared to its average volume of 14,016,544. The company has a 50-day moving average price of $51.26 and a two-hundred day moving average price of $56.26. The stock has a market cap of $66.76 billion, a PE ratio of 13.46, a P/E/G ratio of 0.79 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 1-year low of $43.56 and a 1-year high of $80.75.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Thursday, January 23rd. CVS Health's dividend payout ratio is 67.51%.

Analysts Set New Price Targets

Several research firms have commented on CVS. Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen boosted their price target on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Barclays lowered their price target on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $68.71.

CVS Health Profile

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.