CVS Health Co. (NYSE:CVS) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC raised its holdings in CVS Health Co. (NYSE:CVS) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,029 shares of the pharmacy operator’s stock after purchasing an additional 2,262 shares during the quarter. HB Wealth Management LLC’s holdings in CVS Health were worth $899,000 as of its most recent SEC filing.

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

CVS Health Price Performance

Shares of CVS opened at $53.14 on Wednesday. The firm has a fifty day moving average price of $51.27 and a 200 day moving average price of $56.29. The stock has a market cap of $66.87 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.79 and a beta of 0.59. CVS Health Co. has a 1-year low of $43.56 and a 1-year 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.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) 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 the consensus estimate of $92.72 billion. During the same quarter last year, the business posted $2.21 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen increased their target price 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 research report on Thursday, October 24th. Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Truist Financial cut their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.