CVS Health Co. (NYSE:CVS) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. cut its stake in CVS Health Co. (NYSE:CVS) by 0.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 106,447 shares of the pharmacy operator’s stock after selling 610 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in CVS Health were worth $4,778,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVS. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter valued at approximately $25,000. Ridgewood Investments LLC lifted its position in CVS Health by 255.7% during 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 in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter valued at approximately $32,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVS shares. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. TD Cowen boosted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Mizuho reduced their target price 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. Finally, Truist Financial boosted their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Stock Down 0.5 %

Shares of NYSE:CVS opened at $65.47 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a fifty day simple moving average of $51.51 and a 200 day simple moving average of $56.07. The firm has a market cap of $82.55 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, equities research analysts anticipate that CVS Health Co. will post 5.92 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

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.