MCF Advisors LLC Trims Stock Position in CVS Health Co. (NYSE:CVS)

MCF Advisors LLC trimmed its stake in CVS Health Co. (NYSE:CVS) by 62.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 938 shares of the pharmacy operator’s stock after selling 1,533 shares during the period. MCF Advisors LLC’s holdings in CVS Health were worth $42,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased 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 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health in the third quarter worth $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.2 %

CVS stock opened at $53.05 on Thursday. The business’s 50-day moving average price is $51.26 and its 200-day moving average price is $56.26. The stock has a market cap of $66.76 billion, a P/E ratio of 13.46, a PEG ratio of 0.79 and a beta of 0.59. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. 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 (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research 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. 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 5.01%. CVS Health’s dividend payout ratio is presently 67.51%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVS. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Tuesday, December 3rd. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial lowered their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Piper Sandler reduced their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Royal Bank of Canada lowered their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health 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.