Beach Investment Counsel Inc. PA Sells 2,734 Shares of CVS Health Co. (NYSE:CVS)

Beach Investment Counsel Inc. PA cut its stake in shares of CVS Health Co. (NYSE:CVS) by 28.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,945 shares of the pharmacy operator’s stock after selling 2,734 shares during the period. Beach Investment Counsel Inc. PA’s holdings in CVS Health were worth $312,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB lifted its stake in shares of CVS Health by 124.1% in the 3rd quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock worth $3,882,000 after purchasing an additional 34,198 shares during the period. Czech National Bank grew its position in shares of CVS Health by 7.2% during the 3rd quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock valued at $16,124,000 after acquiring an additional 17,206 shares during the period. GAMMA Investing LLC grew its position in shares of CVS Health by 14.6% during the 3rd quarter. GAMMA Investing LLC now owns 10,347 shares of the pharmacy operator’s stock valued at $651,000 after acquiring an additional 1,315 shares during the period. Value Partners Investments Inc. raised its holdings in CVS Health by 0.4% in the 3rd quarter. Value Partners Investments Inc. now owns 1,195,276 shares of the pharmacy operator’s stock worth $75,159,000 after purchasing an additional 4,354 shares during the period. Finally, City Center Advisors LLC lifted its position in CVS Health by 64.3% during the third quarter. City Center Advisors LLC now owns 11,546 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 4,519 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.0 %

Shares of CVS stock opened at $55.97 on Tuesday. The company has a market cap of $70.43 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61. 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’s 50 day simple moving average is $51.24 and its two-hundred day simple moving average is $56.13. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company 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 firm earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts predict that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

Analyst Ratings Changes

Several research analysts have recently commented on CVS shares. Truist Financial decreased their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Tuesday, December 3rd. Finally, Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.12.

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.