Patriot Financial Group Insurance Agency LLC Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Patriot Financial Group Insurance Agency LLC lowered its stake in CVS Health Co. (NYSE:CVS) by 1.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,090 shares of the pharmacy operator’s stock after selling 232 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in CVS Health were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the third quarter valued at $25,000. Ridgewood Investments LLC increased its stake in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in CVS Health in the third quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter worth approximately $31,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the third quarter valued at approximately $32,000. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Mizuho lowered their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Finally, Truist Financial lowered their price objective 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Stock Performance

NYSE:CVS opened at $57.45 on Wednesday. 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 quick ratio of 0.59 and a current ratio of 0.80. The firm has a market capitalization of $72.29 billion, a PE ratio of 14.58, a P/E/G ratio of 0.80 and a beta of 0.59. The stock has a 50-day simple moving average of $51.24 and a two-hundred day simple moving average of $56.19.

CVS Health (NYSE:CVS) last released its earnings results 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 company 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 firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.21 EPS. Analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.63%. CVS Health’s payout ratio is presently 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.