CVS Health Co. (NYSE:CVS) Shares Sold by Beacon Financial Group

Beacon Financial Group reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 18.4% in the 4th quarter, HoldingsChannel reports. The fund owned 12,304 shares of the pharmacy operator’s stock after selling 2,769 shares during the quarter. Beacon Financial Group’s holdings in CVS Health were worth $552,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVS. Polaris Capital Management LLC raised its stake in CVS Health by 7.6% during the 4th quarter. Polaris Capital Management LLC now owns 489,500 shares of the pharmacy operator’s stock worth $21,974,000 after acquiring an additional 34,700 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the fourth quarter worth about $28,000. Bristlecone Advisors LLC lifted its holdings in shares of CVS Health by 4.3% in the 4th quarter. Bristlecone Advisors LLC now owns 10,788 shares of the pharmacy operator’s stock valued at $484,000 after purchasing an additional 448 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of CVS Health in the 4th quarter valued at about $111,000. Finally, Robinson Value Management Ltd. increased its position in CVS Health by 8.3% during the fourth quarter. Robinson Value Management Ltd. now owns 33,083 shares of the pharmacy operator’s stock worth $1,485,000 after buying an additional 2,531 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler decreased their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.78.

CVS Health Stock Performance

Shares of CVS opened at $63.23 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a 50-day simple moving average of $50.61 and a 200-day simple moving average of $55.92. The company has a market capitalization of $79.57 billion, a PE ratio of 16.05, a P/E/G ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Equities research analysts predict that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, January 23rd. 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.