Triangle Securities Wealth Management Sells 4,268 Shares of CVS Health Co. (NYSE:CVS)

Triangle Securities Wealth Management trimmed its position in CVS Health Co. (NYSE:CVS) by 29.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,060 shares of the pharmacy operator’s stock after selling 4,268 shares during the period. Triangle Securities Wealth Management’s holdings in CVS Health were worth $452,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the third quarter valued at $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health in the third quarter worth $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.5 %

CVS Health stock opened at $52.72 on Monday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The business’s fifty day moving average is $51.34 and its 200 day moving average is $56.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $66.35 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Ratings Changes

A number of brokerages have weighed in on CVS. UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Piper Sandler reduced their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.71.

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.