Beta Wealth Group Inc. Sells 39,542 Shares of CVS Health Co. (NYSE:CVS)

Beta Wealth Group Inc. trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 84.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,421 shares of the pharmacy operator’s stock after selling 39,542 shares during the period. Beta Wealth Group Inc.’s holdings in CVS Health were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $28,000. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter valued at approximately $31,000. Finally, Legacy Investment Solutions LLC bought a new stake in CVS Health during the 3rd quarter valued at $31,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE CVS opened at $65.71 on Tuesday. The company has a 50-day simple moving average of $51.11 and a two-hundred day simple moving average of $55.99. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The firm has a market cap of $82.84 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. 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 posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, equities analysts forecast that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.05%. CVS Health’s dividend payout ratio is currently 72.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVS. Truist Financial lifted their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada decreased their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Wolfe Research boosted their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.28.

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.