Sheets Smith Wealth Management Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Sheets Smith Wealth Management cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 37.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,609 shares of the pharmacy operator’s stock after selling 11,620 shares during the period. Sheets Smith Wealth Management’s holdings in CVS Health were worth $880,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CVS. Sound Income Strategies LLC boosted its position in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after acquiring an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in CVS Health by 13.1% in the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after acquiring an additional 195 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after purchasing an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. increased its position in shares of CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CVS shares. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. UBS Group upped their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI boosted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Up 1.0 %

CVS Health stock opened at $53.14 on Wednesday. CVS Health Co. has a 12 month low of $43.56 and a 12 month 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. The business has a 50 day simple moving average of $51.27 and a 200-day simple moving average of $56.29. The stock has a market capitalization 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 (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business 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 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that CVS Health Co. will post 5.22 EPS for the current fiscal 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 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 5.01%. CVS Health’s payout ratio is 67.51%.

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.