Ridgewood Investments LLC Grows Position in CVS Health Co. (NYSE:CVS)

Ridgewood Investments LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 255.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 626 shares of the pharmacy operator’s stock after acquiring an additional 450 shares during the quarter. Ridgewood Investments LLC’s holdings in CVS Health were worth $28,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of CVS Health by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 173,643 shares of the pharmacy operator’s stock valued at $7,795,000 after buying an additional 2,256 shares during the last quarter. Watts Gwilliam & Co. LLC lifted its position in shares of CVS Health by 9.8% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 7,302 shares of the pharmacy operator’s stock valued at $334,000 after buying an additional 650 shares during the last quarter. InvesTrust purchased a new stake in shares of CVS Health during the fourth quarter valued at about $1,823,000. Central Pacific Bank Trust Division lifted its position in shares of CVS Health by 3.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 34,257 shares of the pharmacy operator’s stock valued at $1,538,000 after buying an additional 989 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CVS shares. Truist Financial decreased their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. TD Cowen upped their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Mizuho cut their price objective 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. One 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Price Performance

Shares of NYSE CVS opened at $48.00 on Friday. The stock has a market capitalization of $60.40 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.85 and a beta of 0.59. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The firm’s 50 day simple moving average is $51.82 and its 200-day simple moving average is $56.62. 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 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. The business 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%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. Analysts expect that CVS Health Co. will post 5.32 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 given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.54%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

CVS Health Company 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.