Exeter Financial LLC Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Exeter Financial LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,039 shares of the pharmacy operator’s stock after selling 5,525 shares during the quarter. Exeter Financial LLC’s holdings in CVS Health were worth $1,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grandview Asset Management LLC purchased a new stake in CVS Health in the fourth quarter valued at $311,000. Marcum Wealth LLC boosted its holdings in CVS Health by 17.2% during the fourth quarter. Marcum Wealth LLC now owns 8,723 shares of the pharmacy operator’s stock worth $392,000 after buying an additional 1,283 shares in the last quarter. Persium Advisors LLC acquired a new stake in CVS Health during the fourth quarter valued at $323,000. Bridge Creek Capital Management LLC raised its position in shares of CVS Health by 0.6% in the fourth quarter. Bridge Creek Capital Management LLC now owns 57,767 shares of the pharmacy operator’s stock worth $2,593,000 after acquiring an additional 330 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in shares of CVS Health by 3.8% during the 4th quarter. Moody National Bank Trust Division now owns 24,185 shares of the pharmacy operator’s stock worth $1,086,000 after acquiring an additional 885 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent analyst reports. TD Cowen lifted their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. 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 research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Evercore ISI increased 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, Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One 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 data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Up 7.4 %

Shares of NYSE:CVS opened at $51.54 on Tuesday. CVS Health Co. has a 52-week low of $43.56 and a 52-week 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. The business has a fifty day moving average of $51.76 and a two-hundred day moving average of $56.49. The stock has a market cap of $64.86 billion, a P/E ratio of 13.08, a PEG ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (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 firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the business earned $2.21 earnings per share. CVS Health’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.16%. CVS Health’s payout ratio is 67.51%.

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.